Entrepreneurship Today: The Resurgence of Small, Technology-Driven Businesses in a Dynamic New Economy

ISBN-13: 9783031114946 / Angielski / Twarda / 2022 / 233 str.

Swati Bhatt

Opis

This book explores how the U.S. has been in the throes of a startup revolution, fueled by a risk-taking culture. There has been a growth of young startup from 1994, accelerating after 2010 through the present day. Most entrepreneurial activity is in the professional and business services sector, which comprises technical services as well as research and development.However, new establishments face a low survival rate, suggesting that starting businesses is not the problem, sustaining their development and growth is the principal challenge. A paradox is presented by the simultaneous presence of declining labor force participation rate among prime working age adults, a decrease in productivity growth rates in the past decade and a startup revolution.There are five native skills that are acquired by experience rather than formal education: resourcefulness, practical intelligence, over-optimism and personal initiative. These are built on a foundation of attributes that form the culture of risk-taking and decision-making. Underlying values and beliefs include collaboration, openness to new ideas, an awareness of the environment and the needs of people in your radius of interaction. A strongly embedded community forms the essence of entrepreneurial culture, and its values cannot be taught, they must be learned through experience.  

Spis treści

​Preface 

Abstract 

Table of Contents 

List of Figures 

Part I:

Chapter 1: Introduction 

i. What is a startup

ii. Connectivity

iii. Cynicism and mistrust of government institutions and state authority

iv. The new world of 2021 – 2022

v. Entrepreneurship and community

vi. The Plan

vii. The Backdrop: A short survey of related current research

viii. Bibliography

Chapter 2: Business dynamism over 1994-2020 

i. Young versus mature startups

ii. Scale of startups

iii. Kauffman Foundation data

iv. Tax and administrative data

v. The mobility versus the desktop digital revolution

vi. Data Map

vii. Bibliography

Chapter 3: Desktop vs mobility revolutions at the state level 48

i. Time

ii. Geography

iii. Time and Geography

iv. The Mississippi River

v. The Southern Region and the rising star of Georgia

vi. The NUWMICs

vii. Resilience

viii. Weak Northeast

ix. District of Columbia and Hawaii

x. State level illustrations

xi. Bibliography

Chapter 4: The impact of the Great Recession 68

i. The turnaround states

ii. Correlation between the two periods

iii. Per capita results

iv. The unique nature of resilient states

v. Bibliography

Chapter 5: The mature startups 77

i. Mature startup survival

ii. The delay hypothesis

iii. State level descriptions

iv. Per capita results

v. Acquisition by behemoths or absence of support architecture

vi. Industries and sectors

vii. State-by-industry portrait

viii. Taxation

ix. Bibliography

Part II:

Chapter 6: Is it about technology? 

i. The technologies

ii. Putting it all together

iii. Idiosyncratic aspects of states

iv. Sizzling patent is not a startup

v. Clarity about the product and customer feedback

vi. The demand side – awareness of a problem

vii. Scaling and rapid cost escalation

viii. Unintended effects of rapid scaling

ix. Cooperation and the human-centered Anthropocene

x. Costs of coordination

xi. Appendix – McKinsey Technology Forecast and MIT Review Technology

Forecast

xii. Bibliography

Chapter 7: The entrepreneurial culture 

i. Not about finance

ii. Not the gold rush model

iii. Connectedness

iv. Consensual disagreement

v. Asynchrony and noise

vi. Accelerators and the support architecture

vii. Scaling, again

viii. Bibliography

Chapter 8: Gender, education, race and ethnicity 

i. Age, experience and the undefined factor - the two paradoxes

ii. Gender

iii. Education

iv. Entrepreneurship skills

v. Race and Ethnicity

vi. Bibliography

Chapter 9: The big quit: reimagining lifestyles 

i. Quits

ii. The demographics

iii. The state trends

iv. The pandemic

v. The government

vi. Bibliography

Chapter 10: Culture, society and government: 

i. A broader perspective – communities

ii. Policy and entrepreneurship

iii. My take

iv. Bibliography

Appendix: 

i. Data Sources

ii. Business Employment Dynamics

iii. Statistical Details

O autorze

Swati Bhatt received her Ph.D. in Economics from Princeton University in 1986 and has been a faculty member there since 1992. Her research interests include the economics of digitization and industrial organization with a focus on the technology industry. Bhatt was also a research economist at the Federal Reserve Bank of New York (1985-1990) and taught at New York University's Stern School of Business (1990-1992). Her publications include: How Digital Communication Technology Shapes Markets (2017) and The Attention Deficit: Unintended Consequences of Digital Connectivity (2019).

Blurb

This book explores how the U.S. has been in the throes of a startup revolution, fueled by a risk-taking culture. There has been a growth of young startups from 1994, accelerating after 2010 through the present day. Most entrepreneurial activity is in the professional and business services sector, which comprises technical services as well as research and development.

However, new establishments face a low survival rate, suggesting that starting businesses is not the problem, sustaining their development and growth is the principal challenge. A paradox is presented by the simultaneous presence of declining labor force participation rates among prime working age adults, a decrease in productivity growth rates in the past decade and a startup revolution.

Entrepreneurship can be defined by four native skills that are acquired by experience rather than formal education: resourcefulness, practical intelligence, over-optimism and personal initiative. They emerge from an underlying culture of risk-taking which embraces collaboration, openness to new ideas and an awareness of the environment and the needs of people. Connectivity and shared experiences create communities which provide a sense of belonging and identity through the narrative portrayed and the shared values established. A risk-taking culture is born in such an environment, it cannot be taught but must be learned through experience.

Swati Bhatt received her Ph.D. in Economics from Princeton University in 1986 and has been a faculty member there since 1992. Her research interests include the economics of digitization and industrial organization with a focus on the technology industry. Bhatt was a research economist at the Federal Reserve Bank of New York (1985-1990) and taught at New York University's Stern School of Business (1990-1992). Her publications include: How Digital Communication Technology Shapes Markets (2017) and The Attention Deficit: Unintended Consequences of Digital Connectivity (2019).