Global Entrepreneurship Institute

Posted by: Robert W. Price

Ernst & Young LLP will be accepting nominations for the Ernst & Young Entrepreneur Of The Year(R) 2010 Awards until Friday, March 19, 2010.
>>Nominate An Entrepreneur Today!

Ernst & Young is seeking entrepreneurs for the 24th annual Ernst & Young Entrepreneur Of The Year(R) program. The program honors exactly what the name says – the entrepreneur. The individual who puts everything on the line and translates an idea into a viable, sustainable enterprise. The business the entrepreneur creates – how successful it’s been, its everyday practice with respect to employees, its impact on the community – all these things provide the metrics for selecting award winners. Past EOY winners include Michael Dell of Dell Computers, Christos Cotsakos of E*Trade, and Howard Schultz of Starbucks Coffee.

Entrepreneurs include both founders of companies and those who organize, manage, and assume the “educated” risks of a business or enterprise early in the company’s life or development and are still active in the leadership of the company. Entrepreneurs can also be multi-generational (business passed from generation to generation) assuming the current CEO continues to manage the business and assumes the appropriate educated risks. The new generation should take the business to the next level. Entrepreneurs find creative, venturesome ways to acquire the capital resources they need to achieve their goals, to build and grow a business. Someone who drives the process of creating value by combining resources to exploit an opportunity.

Entrepreneur Of The Year Magazine
Find out more about the innovative men and women who are Ernst & Young Entrepreneur Of The Year 2009 national winners and finalists, as well as the awards program and judging process, in the Ernst & Young Entrepreneur Of The Year Magazine.
>>Download PDF File

Ernst & Young Entrepreneur Of The Year Program
Ernst & Young’s Entrepreneur Of The Year(R) Award is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, the Ernst & Young Entrepreneur Of The Year(R) award celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

Source: Ernst & Young, LLP

Posted by: Robert W. Price

Young entrepreneurs under age thirty-six need to register their team in the 2010 Talent and Innovation of the Americas (TIC Americas) before the deadline on March 01, 2010, according to the Young Americas Business Trust (YABT).

YABT announced that in 2010 there will be new opportunities for young people in the Americas and Peru to create and grow their business idea.

“TIC Americas/Peru 2010 will offer new award categories in the field of natural resources,” stated Roy Thomasson, CEO of the Young Americas Business Trust.

Apply Now! The deadline for TIC Americas 2010 is March 1, 2010!
>>Apply Now

He continued, “In 2010, projects will be accepted in Spanish or English. This will enable more young people to benefit from the experience of participating in – and winning a TIC Americas award.”

YABT especially encourages young Peruvians to take advantage of the international competition as well as the national events that will be held in Lima from May 30 through June 4, 2010. “Peruvians have a very entrepreneurial spirit and can benefit greatly from the learning and growth potential TIC Americas offers,” he said.

TIC Americas presents awards as an international business competition and accelerator for young entrepreneurs with training and networking opportunities before and after the competition. TIC Americas winners are offered the opportunity to participate in the Global TIC. Teams who participated in previous years reported that TIC Americas was a boost to starting their business and later positively influenced their access to markets.

Companies doing business in the Americas can also reach enterprising young people through TIC Americas by sponsoring local teams and the regional events.

Apply Now! The deadline for TIC Americas 2010 is March 1, 2010!
>>Apply Now

About Young Americas Business Trust (YABT)
A non-profit corporation recognized by the U.S. Internal Revenue Service as a 501(c) (3) organization. It is affiliated with the General Secretariat of the Organization of American States (OAS), and aims to advance the goals of the OAS and Presidential Summits of the Americas to create employment opportunities and reduce poverty by supporting and promoting youth entrepreneurship. Currently, YABT also has National YABTs and representatives in twenty-five countries in the Americas. Being located at the General Secretariat of the OAS gives YABT a unique platform for private/public sector collaboration. The OAS provides substantial overhead and management support for YABT, which enables YABT to put more of its resources into fulfilling its mission instead of addressing administrative matters.

About Organization of American States (OAS)
Brings together the nations of the Western Hemisphere to strengthen cooperation on democratic values, defend common interests and debate the major issues facing the region and the world. The OAS is the region’s principal multilateral forum for strengthening democracy, promoting human rights, and confronting shared problems such as poverty, terrorism, illegal drugs and corruption. It plays a leading role in carrying out mandates established by the hemisphere’s leaders through the Summits of the Americas. With four official languages — English, Spanish, Portuguese and French — the OAS reflects the rich diversity of the hemisphere’s peoples and cultures. It is made up of 35 member states: the independent nations of North, Central and South America and the Caribbean. The government of Cuba, a member state, has been suspended from participation since 1962; thus only 34 countries participate actively. Nations from other parts of the world participate as permanent observers, which allows them to closely follow the issues that are critical to the Americas.

Source: Young Americas Business Trust (YABT)

Posted by: Robert W. Price

Business-owning Households More Likely Than Others to Have Higher Income
and Wealth

Does small business ownership help increase a household’s overall well-being? One way to look at this is to examine how the income and wealth of households owning small businesses changed in the most recent economic expansion and recovery period. That task was undertaken in a study just released by the U.S. Small Business Administration’s Office of Advocacy.

“The report released today finds that households owning small firms in the 1998-2007 period were more likely than other households to be in the top 50 percent in income and wealth,” said Susan M. Walthall, Acting Chief Counsel for Advocacy. “It will be important to continue to examine this data series to assess the well-being of small businesses in the current economic environment.”

Continue reading ‘Study: Examines Wealth of Entrepreneurs and Home Ownership’ »

Posted by: Robert W. Price

Reduced Investment and Job Creation to Blame for High Unemployment

By James Sherk 

Abstract: The unemployment rate in America jumped from 4.9 percent in late 2007 to 10 percent in November this year. The conventional wisdom that unemployment is rising because more people are losing their jobs is only partly true. Job-loss rates have increased, but the largest force driving unemployment is the sharp drop in private-sector job creation. The massive stimulus bill championed by President Obama did nothing to “create or save” millions of jobs. Heritage Foundation labor-policy expert James Sherk explains why any “jobs bill” that relies on govern­ment spending without improving the investment and entrepreneurship climate will fail.

What Congress Should Do To Help Entrepreneurs
According to Heritage Foundation: In order to reduce unemployment, Congress must encourage firms to innovate, invest, and take risks, and remove policies that discourage them from doing so. One policy proposed by President Obama would encourage innovation and job creation. During the election campaign, Senator Obama proposed eliminating the capital gains tax on start-up companies. Doing so would encourage more venture capital investment in new businesses. Most new businesses fail. Venture capital funds invest in many new companies and make up the losses in the many failures with large profits on the handful of start-ups that succeed. If Congress repealed the capital gains tax on start-up businesses, investors would earn greater after-tax profits on the few successful start-ups. The higher returns would encourage venture capital funds to invest in more new companies, including some riskier ventures in which they will not invest now. The greater profits from successful companies would compensate for the risk of failure from others. The net result would be more investment, more start-up businesses, and more jobs. This would increase job creation and lower unemployment.
>>Read More

About The Heritage Foundation
Founded in 1973, The Heritage Foundation is a research and educational institute — a think tank — whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.
>>Learn More

Source: Heritage Foundation

Posted by: Robert W. Price 

Weak consumer spending continues to be a major worry. The Small Business Optimism Index fell below 90 for the sixth consecutive quarter, indicating the severity of the downturn. The Index gained 0.3 points, rising to 89.1 (1986=100), 8.1 points higher than the survey’s second lowest reading reached in March (the lowest reading was 80.1 in 1980:2). In the 1980-82 recession period, the Index was below 90 in only one quarter. In this recession, the Index has been below 90 for six quarters, indicative of the severity of this downturn.
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NOTE: This is an Adobe PDF file.
>>Download the Report in PDF 

>>Read More: Wall Street Journal Article

National Federation of Independent Business (NFIB)
NFIB is the leading small business association representing small and independent businesses. A nonprofit, nonpartisan organization founded in 1943, NFIB represents the consensus views of its members in Washington and all 50 state capitals. NFIB’s mission is to promote and protect the right of our members to own, operate and grow their businesses. NFIB also gives its members a power in the marketplace. By pooling the purchasing power of its members, the National Federation of Independent Business gives members access to many business products and services at discounted costs. NFIB also provides timely information designed to help small businesses succeed.

Posted by: Robert W. Price

The U.S. government has spent billions of dollars bailing out troubled companies. Is it time for Uncle Sam to invest in new entrepreneurial firms as well? Harvard Business School Professor Josh Lerner makes the case for limited government involvement in his book Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed—and What to Do about It.
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>>Buy the Book

Posted by: Robert W. Price

The Small Business Survival Index measures states that are friendly to small businesses in terms of public policy decisions. The list compiled by the Small Business & Entrepreneurship Council looks at 36 government-related costs such as taxes, regulatory costs, and property costs, to determine which states have truly made an effort to be welcoming to small businesses. South Dakota tops the list as the most small-business friendly state, followed by Nevada, Texas, Wyoming, and Washington. The District of Columbia comes in as the least friendly, preceded by New Jersey and California.
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About Small Business and Entrepreneurship Council (SBE Council)
Works to educate elected officials, policy makers, business leaders and the public to advance initiatives that enhance the environment for entrepreneurship, business start-up and growth. Through advocacy, research, training and education, SBE Council members and staff convey the importance of entrepreneurship and small business to job creation, innovation and the overall health of the economy. SBE Council is viewed as one of the most powerful and effective organizations dedicated to protecting small business and promoting entrepreneurship.

Posted by: Robert W. Price

New Fellowship Fund for Graduate MBA Students at UC Irvine Established to Honor Leading Businessman and Tech Coast Angels Founder, Luis Villalobos

The friends and colleagues of recently deceased businessman, entrepreneur and Tech Coast Angels founder, Luis Villalobos, are establishing an endowed fellowship fund to be awarded to a graduate MBA student at the Paul Merage School of Business at University of California, Irvine.

The fellowship, entitled the Luis Villalobos Endowed Fellowship in Entrepreneurship, is designed to honor the business leader in perpetuity. According to Tech Coast Angels Orange County President Richard Sudek, “Luis spent most of his life mentoring and training new entrepreneurs. It’s appropriate that this endowment should continue his mission to help and assist young entrepreneurs.”

Continue reading ‘Honoring Angel Investor Luis Villalobos - New Fellowship For MBA Students At UCI’ »

We invite you to celebrate Global Entrepreneurship Week with us!
Join us in our Online Class for all global entrepreneurs!
Our global activity supporting entrepreneurial people!

Dates: November 16-22, 2009

Meet An Angel Investor
Special Guest Lecturer: Richard Koffler, Tech Coast Angels

FREE 100% online educational event!
- Learn from experts
- Learn from other entrepreneurs
- Learn Local, Share Global

This event is now closed!

Continue reading ‘Global Entrepreneurship Week - Free Online Course’ »

Posted by: Robert W. Price

Why Job Creation Matters More than Job Losses

By James Sherk 
What creates jobs? Employers with profitable businesses, innovating and creating wealth. As long as entrepreneurs and investors have reduced opportunities to create wealth, unemployment will remain high.

The $787 billion economic stimulus package that President Barack Obama championed has not stemmed the unemployment rate, which has risen sharply since the recession began. Sharply reduced creation of new jobs has driven this rise in unemployment.
>>Read More

Businesses and entrepreneurs have cut back on investment, so they create fewer jobs.

Had job creation remained at the same level throughout the recession as during the last quarter of 2007 the private sector would have created three million net jobs despite increased layoffs.

A third stimulus bill with yet more government spending, as some in Congress propose, will do just as little to reduce unemployment because, once again, it will not encourage the entrepreneurship and risk-taking that create jobs.

About The Heritage Foundation
Founded in 1973, The Heritage Foundation is a research and educational institute — a think tank — whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.
>>Learn More 

>>Read More: Heritage Foundation

Source: Heritage Foundation

Famous Quotes About Entrepreneurship

Creating Your Start-Up Strategy

The beginning is the most important part of the work.
—Plato

The time to prepare isn’t after you have been given the opportunity. It’s long before that opportunity arises. Once the opportunity arrives, it’s too late to prepare.
—John Wooden, basketball coach of ten championships teams at UCLA

Continue reading ‘What are some famous quotes about entrepreneurship?’ »

Case In Point: Cisco Systems

In the early 1980s Stanford University had some 5,000 computers of various types. There was no campus-wide network, the systems were like islands. Bridges were needed to connect them together. Cisco Systems was founded in 1983 in the living room where Len Bosack and his wife Sandy Lerner lived. Their solution was to create the bridge that networked the networks. Continue reading ‘Managing the Rapidly Growing Venture’ »

Business Plan Contests and Business Plan Competition Events have become very popular around the world for universities and non-profit organizations that support entrepreneurship. Our Business Plan Contest Directory lists the most popular business plan contests and business plan competition events from around the world.

Continue reading ‘Register Your Business Plan Contest For Free’ »

Posted by: Robert W. Price

Many family-owned businesses are closing because the recession has outlasted their ability to hang on. The Wall Street Journal reports the Small Business Administration estimates 90% of all U.S. businesses are family owned or controlled, and the Bureau of Labor Statistics estimates about 4.3 million businesses with 19 or fewer employees closed between the end of 2007 and the end of 2008.
>>Read More

Discussions of Entrepreneurship

Few words are as abused in the lexicon of the business world, as ill defined in the management literature, and as open to multiple meanings as entrepreneurship. The concept of entrepreneurship has been in our modern society for thousands of years and in the history of economic study the word has been overused, and in some cases underused.

Carl Voigt, dean of the Marshall School of Business at the University of Southern California, explains, “We sort of defined entrepreneurialism too narrowly as someone who wants to start their own business. But entrepreneurialism can also mean finding new business opportunities and expansion at existing companies.”

Continue reading ‘What is the history of entrepreneurship?’ »