Mr. George Solomon of the Center for Entrepreneurial Excellence at George Washington University remarked that he feels “in the future the prime source of new jobs will be chiefly created from an entrepreneurial climate, not from invigorating old industries.” The idea strikes a chord especially now.
Earlier when finances were strong people were scared about walking away from their careers to pursue their own businesses. However, during this economic decline millions have found themselves out of work. Many have decided now is the day to start their own business since they can’t find steady income anywhere. They have nothing to lose and everything to gain.
The plea at this time for entrepreneurs draws many Americans because of their sense of independence President Obama is relying on entrepreneurs to bring the U.S. out of the current catastrophe. In September, the Commerce Department even opened the Office for Entrepreneurship and Innovation to reinforce startup companies. Now an ever increasing number of companies are starting out slow but have the hope of booming once they’ve found their market target market. They are assisted because there are so many gifted individuals seeking work.
Most companies today are offering low prices but the problem is that they have failed to restructure themselves. They are losing hundreds of millions in investments because they aren’t adapting to the current business climate. Companies should make structural changes that take them away from the typical vertically integrated companies. Those businesses that can move with the times will find themselves in the black.
George Solomon at the Center for Entrepreneurial Excellence at George Washington University noted that he believes “in the future the prime source of new jobs will be predominately created from an entrepreneurial climate, not from revitalizing old industries.” The notion strikes a chord especially now.
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Aubrey Moulton
