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Business retention and expansion (BRE) is regarded as the most practical and accessible method for economic development at the city, town, or neighborhood scale. This comprehensive volume centers on the belief that BRE is the top responsibility for a community economic development official. BRE is an asset-based approach designed to systematically strengthen the connection between businesses and the community while encouraging each business to continue operations and expand in the community. It focuses on the community’s existing businesses instead of those it doesn’t have. This book illustrates many different facets of BRE, from big-picture and theory to lessons learned about BRE from practitioners and academics with diverse perspectives and backgrounds. The authors demonstrate diverse ways of reaching out and responding to existing businesses. They explore several topics related to or at the very heart of BRE including: business clusters, entrepreneurship, community outcomes, business assistance, transportation systems, energy efficiency, business succession, and defining BRE success. These include research, program evaluation, and case studies. This book offers both theoretical and applied points of views, and will be of great interest to local practitioners, state/provincial officials, and students of economic development. It was originally published as a special issue of the journal Community Development.
This survey reviews research on the economics of small business, introducing key concepts for the understanding of the research, including some basic microeconomics, distribution functions, and concepts of entrepreneurship. Accessible to readers with elementary knowledge of economics and probability, the book is suitable as a text for an undergraduate course in the economics of small business. It also covers the economics of organization, the role of the family in small business, human capital and nonpecuniary motivation, together with the relationship of small business to entrepreneurship and growth. Public policy toward small business is discussed with an emphasis on the United States, together with comparisons and contrasts of many other countries.
A guide to ending America's jobs emergency by accelerating the true engine of job creation—start-ups Four years after the end of the Great Recession, 23 million Americans remain unemployed, underemployed, or have left the workforce discouraged. Even worse, Washington policymakers seem out of ideas. Where the Jobs Are: Entrepreneurship and the Soul of the American Economy shows how America can restore its great job-creation machine. Recent research has demonstrated that virtually all net new job creation in the United States over the past thirty years has come from businesses less than a year old—true "start-ups." Start-up businesses create an average of three million new jobs each year, while existing businesses of any size or age shed a net average of about one million jobs annually. Unfortunately, the vital signs of America's job-creating entrepreneurial economy are flashing red alert. After remaining remarkably consistent for decades, the rate of new business formation has declined significant in recent years, and the number of new jobs created by new firms is also falling. In Where the Jobs Are, the authors recount the findings of a remarkable summer they spent traveling the country to meet and conduct roundtables with entrepreneurs in a dozen cities. More than 200 entrepreneurs participated—explaining in specific and vividly personal terms the issues, frustrations, and obstacles that are undermining their efforts to launch new businesses, expand existing young firms, and create jobs. Those obstacles include a dangerously underperforming education system, self-defeating immigration policies that thwart the attraction and retention of the world's best talent, access to capital difficulties, a mounting regulatory burden, unnecessary tax complexity, and severe Washington-produced economic uncertainty. Explains how start-ups are different from existing businesses, large or small, and why they represent the engine of job creation Reveals how policymakers' failure to understand the unique nature and needs of start-ups has undermined efforts to stimulate the economy following the Great Recession Presents a detailed, innovative, and uniquely credible 30-point policy agenda based on what America's job creators said they urgently need Engaging and informative, Where the Jobs Are reveals with unprecedented precision and clarity the major obstacles undermining the fragile economic recovery, and provides a vitally important game plan to unleash the job-creating capacity of the entrepreneurial economy and put a beleaguered nation back to work.
The companion volume to the public television series explains what it takes to be a successful entrepreneur.
Entrepreneurship and globalization are two much-examined forces as we enter the new millennium--yet very little has been published on the intersection of small and medium-sized enterprises (SMEs) and the global economy. To close the gap, this volume delves into the intricate roles and consequences of such businesses on both global and domestic economies. The first part of the volume provides an overview of the phenomenon of globalization, arguing that entrepreneurial discovery and technological change lead to globalization, which in turn leads to further opportunity for entrepreneurial discovery--no less for SMEs than for multinational corporations. In part two, the essays examine the role of SMEs in the global economy and why they are thriving. Part three reviews the roles of SMEs and innovators and examines their roles in direct foreign investment. Part four explores the role of technological diversity and knowledge spillovers as a way to explain the superior innovative performance of SMEs. Part five looks at the role of SMEs in technology transfer. Finally, part six examines the theoretical and policy implications of the international activities of SMEs, suggesting that policies should aim to reduce the costs in international expansion for SMEs. This volume will provide the foundation for further study in SMEs and globalization. It will appeal to scholars and students in both international business and economics. Zoltan J. Acs is Professor of Economics and Finance, University of Baltimore. Bernard Yin Yeung is Professor of International Business, University of Michigan.