Wednesday, July 14, 2010
Kauffman Study Shows Power of Startups
Our president Mike Landram found an interesting article he wanted to share with you. This information is based on a study done by the Kauffman Foundation. Let me give you the gist, and then I encourage you to read the article and see for yourself.
According to the study, existing companies are not the main source of job growth - startup companies are. Therefore, it is essential to focus attention on entrepreneurs/small businesses/startups in order to boost further job growth. The study showed that on average, one-year-old firms create nearly one million jobs.
Did you know that the majority of businesses in Allen County are classified as small businesses? And we know that a significant percentage of our Chamber members are small businesses as well. The point is never to negate the value and importance of large businesses, and those who have been in existence for years and continue to have an impact in our community. The point is simply to recognize the value of startups -- the "little guy" who is starting out, and the potentially big impact they can have on the economy.
Read the article here.