This document discusses the importance of entrepreneurship and ways communities can better support it. It defines entrepreneurship broadly as starting new commercial or social enterprises or changing existing business practices. The document states that entrepreneurship is critical for economic development and prosperity. It suggests that communities would benefit from asset mapping to understand available entrepreneurship support resources, linking these assets through social networking platforms, and promoting an entrepreneurial culture.
Why Entrepreneurship Matters: The Critical Role it Plays in Communities
1. Why
Entrepreneurship
Matters
What
is
entrepreneurship?
While
there
are
many
definitions
of
Thanks
to
our
friends
at
Pop!Tech
(via
Flickr)
entrepreneurship
that
focus
on
disruption,
innovation,
or
rate
of
growth,
CSW
takes
a
broader
view.
We
Leaders
who
want
their
communities
think
of
entrepreneurship
as
the
start
to
thrive
will
consider
ways
to
grow
(or
participation
in
the
start)
of
a
new
the
number
of
people
who
are
commercial
or
social
enterprise,
or
a
creative
thinkers
and
innovators,
while
change
in
the
way
of
doing
business
or
at
the
same
time
promoting
better
thinking
within
an
established
understanding,
processes,
and
enterprise.
pathways
to
facilitate
turning
new
product
or
service
concepts
into
viable
This
definition
embraces
all
phases
of
enterprises.
Every
community
has
this
development
and
considers
both
potential.
Today,
more
than
ever,
we
those
who
start
new
ventures
must
work
together
to
realize
it.
(entrepreneurs)
and
those
who
work
within
existing
organizations
but
How
Can
Communities
Better
towards
new
products
or
processes
(intrapreneurs).
Support
Entrepreneurship?
Entrepreneurship
in
its
many
forms
is
Most
communities
offer
programs
and
an
important
source
of
economic
resources
to
support
new
business
dynamism,
innovation,
diversity,
development,
but
there
are
often
employment,
and
quality
of
life.
important
gaps
including:
understanding
Whether
focused
on
technology
or
the
assets
communities
have
in
place
to
lifestyles,
new
ventures
are
an
help
businesses
start,
grow
and
essential
ingredient
in
economic
transform
(asset
mapping);
engaging
development
and
transformation.
stakeholders
(businesses,
technical
assistance
providers,
investors,
etc.)
in
enterprise
success
(networking);
and
Why
is
Entrepreneurship
So
growing
entrepreneurial
culture,
Critical?
whether
in
the
classroom
or
the
We
care
about
entrepreneurship
boardroom.
because
we
know
that
agile,
innovative,
diverse
communities
are
Asset
Mapping
the
ones
that
will
prosper
today
and
In
most
communities,
there
are
be
best
positioned
to
continually
multiple
organizations
supporting
reinvent
themselves
thereafter.
entrepreneurs.
Unfortunately,
we
Entrepreneurial
communities
tend
to
have
learned
not
just
from
analysts
support
the
greatest
professional
and
and
researchers
but
from
service
personal
options
for
their
residents
providers
themselves
about
new
and
offer
the
most
desirable
businesses
that
cannot
find
the
help
opportunities
to
live,
work,
learn,
and
they
need
or
that
fall
through
the
play
–
sustainably.
cracks
because
the
business
support
organizations
do
not
know
where
to
3. The
Future
We
see
important
(and
interconnected)
trends
that
make
We
are
excited
about
the
increasing
entrepreneurship
even
more
central
to
importance
of
entrepreneurship
as
a
community
economic,
social,
and
serious
policy
issue
and
are
working
to
environmental
well-‐being
going
help
communities
embrace
the
new
forward.
opportunities
it
creates.
The
green
economy:
We
have
reached
the
tipping
point.
More
and
more
communities
understand
that
green
is
not
just
about
recycling
but
about
reinventing
the
way
we
live,
work,
learn,
and
play
–
globally.
The
recession:
While
private
capital
is
“stuck,”
we’re
witnessing
the
largest
infusion
of
public
capital
in
our
nation’s
history.
It’s
an
unprecedented
opportunity
to
reinvent,
not
just
rescue.
The
Social
Web:
While
the
technology
revolution
is
decades
old,
its
promises
(shared
knowledge
and
the
ability
to
organize
at
a
mass
scale)
are
just
now
becoming
widely
realized,
raising
whole
new
possibilities
for
launching
and
growing
businesses.
Demographics:
We
see
young
people
with
the
lowest
rates
of
employment
in
decades
competing
for
jobs
with
their
grandparents,
many
of
whom
cannot
afford
to
retire.
We
need
creative
ways
to
barter,
trade,
and
otherwise
exchange
work
for
value
–
less
in
the
form
of
“jobs”
than
a
portfolio
–
and
make
hands-‐on
learning
(credentialed
or
not)
visible.
Founded
in
1991,
Corporation
for
a
Skilled
Workforce
is
a
national,
non-‐profit
policy
research
and
practice
organization
located
in
Ann
Arbor,
Michigan.
Our
mission:
To
reimagine
everything
about
work
and
learning
for
the
prosperity
of
people,
firms,
and
communities.
3
CSW
900
Victors
Way,
Suite
350
Ann
Arbor,
MI
48108
734.769.2900
www.skilledwork.org