Whether it's called a gazelle or a unicorn, a small business or a family business, a "side hustle" or a startup, it is all entrepreneurship. No matter what term is used, the act of setting out, working for one's self and creating something new and valuable is key to growth, both for individuals and the economy.
Entrepreneurship is a path to economic security for founders. It also presents opportunities for those who are not entrepreneurs to climb the economic ladder and achieve economic stability through the jobs entrepreneurs create. Replicated hundreds of thousands of times a month, Americans' entrepreneurial pursuits drive economic growth, create nearly all of the country's net new jobs, spark competition and build community cohesion.
Entrepreneurship is also dynamic. Some businesses that start small will grow quickly to employ many people. Some will fail. Others will remain small, following a more gradual growth path. We call the founders of these locally owned small businesses Main Street entrepreneurs.
Main Street entrepreneurs are the owners and founders of companies that are more than five years old and employ fifty or fewer workers. These businesses tend to have deep roots in their communities and encounter distinct policy challenges.
Follow the links for access to the following resources, or contact Jason Wiens at email@example.com:
Kauffman Compilation: Research on Race and Entrepreneurship
The Economic Impact of High-Growth Startups