Entrepreneurship In The News: Week Of November 16

Nov 23rd, 2009 by actonmba

Global Entrepreneurship Week 2009 was held from November 16 – 22. Countries across six continents engaged in events celebrating entrepreneurship and the initiative to inspire young people to connect with innovation and creativity for entrepreneurial ventures. Activities in the U.S. included “Mentoring Madness,” a session in New York City offering advice from a panel of experts including rapper Snoop Dogg and Blake Mycoskie, Chief Shoe Giver of TOMs Shoes. Ten9Eight: Shoot for the Moon also made its debut in screenings located in Washington D.C. and Los Angeles. The winner of the Global Student Entrepreneur Awards, an international competition, was presented to Milun Tesovic  from Canada. (http://unleashingideas.org)

“What is the state of entrepreneurship?” asks Carl Schramm, CEO of the Kauffman Foundation. According to information by the Bureau of Labor Statistics, there has been a steady decline in the creation of small businesses. Schramm reasons that access to capital, lack of confidence to start a new venture (due to the insufficiency of portable health care) and turning away immigrants (who created almost 10 percent of new job creation in the past decade) as the cause for the current decline in entrepreneurship in the U.S. (CNBC.com)

Small businesses and entrepreneurship is getting help from Goldman Sachs and businessman Warren Buffett. The new initiative will spend $500 million to create greater access to business education, mentors and networks in hopes to open more job opportunities for 10,000 businesses across the U.S. Goldman Sachs presented this initiative after being scrutinized for making mistakes that led to their financial crisis. Buffett noted that he is not committing any of his own money, but will be offering advice from his position. “Small businesses play a vital role in creating jobs and growth in America’s economy,” said Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs. “We are pleased to work with our partners in this initiative to support small business owners, particularly those in underserved communities.” (NYTimes.com)

Photo courtesy of Mackenzieo.

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