05 November 2014

America Less Entrepreneurial, Employment Impacts

America Is Getting Less Entrepreneurial -- NYMag: Robert A. Litan of the Brookings Institution and Ian Hathaway of Ennsyte Economics provide some scary data points in two research papers they have released in the last few months.
  • The share of all companies comprised by start-ups under a year old fell by half between 1978 and 2011
  • The proportion of private-sector workers employed at older firms has increased from 60 percent to 72 percent since 1992
  • The proportion of workers employed at young firms has declined over the same period
  • Companies under a year old are failing more often, with the “failure rate” for start-ups climbing to 27 percent from 16 percent in the early 1990s
  • The “failure rate” has increased for all but the longest-established businesses
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The 7 Habits of Highly Effective Mediocre Entrepreneurs | TechCrunch: " . . . . persistence is not the self-help cliche “Keep going until you hit the finish line!”. The key slogan is, “Keep failing until you accidentally no longer fail.” That’s persistence." - James Altucher

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