The Job-creating Power of Entrepreneurs in the United States

The Job-creating Power of Entrepreneurs in the United States

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One of the major issues in the United States today is the need to create more jobs. You can get some idea about the job-creating power of entrepreneurs when you look at some of the great American entrepreneurs from the past and the present. The history of the United States is the history of it's entrepreneurs. Consider just a few of the many entrepreneurs who have helped shape the American economy:

  • Du Pont, which manufactures thousands of products under such brand names as Teflon and Lycra, was started in 1802 by French immigrant Eleuthere Irenee du Pont de Nemours. Some 18 shareholders provided $36,000 in start-up money.
  • Avon started in 1886 on $500 David McConnell borrowed from a friend.
  • George Eastman launched Kodak in 1880 with a $3,000 investment.
  • Procter & Gamble was formed in 1837 by William Procter and James Gamble with a total of $7,000 in capital.
  • Ford Motor Company began with an investment of $28,000 by Henry Ford and 11 associates.
  • Amazon.com began with investments by founder Jeff Bezoss family and friends. Bezoss parents invested $300,000, a huge portion of their retirement account. Today they are billionaires.

The stories are all about the same. One entrepreneur or a couple of entrepreneurs had a good idea, borrowed some money from friends and family, and started a business. That business now employs thousands of people and helps the country prosper.

The United States still has plenty of entrepreneurial talent. Names such as Steve Jobs (Apple Computer), Ross Perot (Electronic Data Systems), Michael Dell (Dell Computer), Bill Gates (Microsoft), Howard Schultz (Starbucks), Scott Cook (Intuit), and Ted Turner (Cable News Network) have become as familiar as those of the great entrepreneurs of the past.

The Age Of The Entrepreneur

A poll of college seniors showed that 56 percent of them we're more attracted to starting their own businesses than to joining the corporate ranks.1 Generation X people (now in their 20s and early 30s) seem to share the pragmatic view that in this time of post-downsized America it doesn't make sense to work in a company where your reward can just as easily be a pink slip as a promotion or bonus. Why not get a piece of the action by working in your own company? Of the 5 million or so Americans going into business for themselves each year, almost a third are 30 or younger.2 Colleges around the country are responding to this trend by offering more courses on the subject of entrepreneurship. Entrepreneurship is accepting the risk of starting and running a business. Explore this chapter and think about the possibility of entrepreneurship in your future.

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Posted in Home Improvement Post Date 01/02/2019


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