Describe the predominance of new ventures in the economy?
Entreprenuership is definately a growing entity around the world and specficly in America. The numbers speak for themselves, within the past ten years, 600,000 start-ups are being launched per year, within the millinuem US businesses shot up to more than 25 million, a 2% increase every year. One in every 150 adults partake in starting a new business every year and 1 in 12 people are in the process of starting their own firm. These numbers alone more than prove how entreprenuership presses on to have a strong impact with Americans. The benefits of entreprenuership far surpass the assume earnings to its starts and employees, however, entrepreneurship, increases the competition withing existing markets, it creates markets with new products
If you could create a venture for the new economy what would you create?
Due to the many changes and challenges in America's economy I think that the type of venture is critical. I think ventures in the health and low cost entertainment industries would be a something to look into. Special detail in cost differentiation in a market is important.
- Joyce
The predominance of new ventures in this economy can obviously be attributed to the worsening economic situation in the United States. There are millions of workers that have lost their jobs in the recent months and more over the past several years due to globalization and out sourcing. There is a strong relationship between the number of entrepreneurs and the current unemployment rate. Due to many companies laying people off some workers have found themselves having to create work instead of find a job. If I were going to create a new venture I would want to focus in certain industries because of their reputation of stability. Healthcare and security are safe, so I would venture into those fields. There is adequate research that shows the elderly population is growing at unprecedented numbers, so home health or transportation would be a marketable venture.
- Sarah
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ReplyDeleteI agree with you that unemployment right now had increase, and the best ventures to create are in the health care field and security, however, these are my thoughts below.
ReplyDeleteThe predominance of new venture in the economy is something powerful, competitive. A business that is different than others and stable. If I could create a venture for the new economy, I will first take what I learned in lesson one about the “Creative class” and apply it to this venture. Richard Florida stated that in order to have a competitive global business we must take “Creative Class” in consideration. There are three main values of the “Creative Class” which include Individuality, Meritocracy, and Diversity & Openness. (Richard Florida). The Business I would open is a fashion store. For individuality, fashion is my life since I was a little girl, I love fashion. If you do what you like and not think of the money, its value is more than money. For diversity and openness, I’m a very friendly person, and a really open minded. Friendship is very important and relationship as well. I learned that friendship not only helps you when you have a hard time though emotional stress, but they are also a connection for your futures career. To conclude this I would love to open a fashion store and use my creativity to create something different and competitive to the global market.
Right now in the economy it’s not a good idea to create an apparel store, but I still believe in my interest and inspiration and I still have hope for a staple apparel industries.
-Thao Do
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