World Change Wednesdays: Support Entrepreneurs

photo-1444653614773-995cb1ef9efa.jpegAt a conference recently, I heard some really smart people say some cool things: 

1st - "Every 1% increase in entrepreneurship equals a 2% decrease in poverty."

2nd - "Entrepreneurship is the tool to rebuild our communities."

3rd - "Entrepreneur comes from French 'to undertake.' An entrepreneur is one who undertakes."

So I did some fact checking...

1st - Yes, I found a statistical analysis that compared states from 2001 to 2007.  Their data showed that for every 1 percentage point increase in the rate of entrepreneurship in a state, there is a 2 percent decline in the poverty rate.  If you've studies statistics you know this means there's a correlation not a causation per se.

2nd - This one is hard to prove.  There's been no definitive research.  So, let's ask a question. What is the role of business? One definition I've heard is to create value. By starting new businesses, entrepreneurs create new value. Something good that didn't exist before does now and those included (customers, suppliers, investors, and employees) benefit.  With a really good entrepreneur,  the entire planet and everyone who lives here can get in on the new value from this new business.

3rd - Yes, Entrepreneur is a loanword from French: "Entreprende" (a verb in French) meaning "to undertake." This is what entrepreneurs do: they take problems upon themselves and develop solutions.  When the solution is profitable and sustainable, the entrepreneur is successful and those who had the problem are relieved of their problem.  

So, let me ask you to imagine... What if every entrepreneur had the resources they needed to succeed?  What kind of poverty reduction might we see?  What kind of new value might society realize?  What problems would find their solutions? Imagine, if you can.

Now, go and support an entrepreneur near you.  Don't know one?  Most likely the small or mid-sized businesses in your community are owned by an entrepreneur.  Ask the next time your there who the owner is.  Then ask the owner what they need to succeed.  Comment and share your story.

If you're an entrepreneur, comment and share what resources you need to succeed.  Who knows, maybe someone reading has that resource or an idea where to find it.

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