Three Mega Trends Shaping the Future of Entrepreneurship
Despite the recent rise of the traditional economic indicators, too many people are left out of these gains. The long-term decline in entrepreneurship has dragged down productivity, wages and living standards for all Americans. Put simply, fewer entrepreneurs mean a lower quality of life for Americans.
Mega Trends in Entrepreneurship
- Demographics: U.S. population is increasingly diverse, educated and older, yet the entrepreneurial population is not changing as fast.
- Geography: Entrepreneurship is increasingly an urban phenomenon, although it is also growing outside of the largest cities – spreading to mid-sized metro areas.
- Technology and job growth: Technological advances have meant that revenue and jobs no longer scale in an almost linear fashion. Fewer jobs are created as companies reach massive scale, yet opportunities are more widely available as technology lowers barriers to entry.