Importance of Entrepreneurship

Frederick Taylor University
BA 465D: Entrepreneurship – Small Business Management
Final Assignment
Student ID: 1754

Importance of Entrepreneurship
Francis P. Remengesau

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Table of Contents

I.

Introduction

Pg. 2

II.

Job Creation

Pg. 2

III.

Importance of Entrepreneurship

Pg. 3

IV.

The Role of Entrepreneurs in the Economy Pg. 4

V.

Risk

Pg. 6

VI.

American entrepreneurs

Pg. 8

VII.

Conclusion

Pg. 9

VIII.

Bibliography/Further Readings

Pg. 10

End Notes

Pg. 11

IX.

1

Introduction
Why do people work or need to work or have a job? Since Paleolithic Era, when caveman was prevalent, they had to work in their society where hunting and gathering were important to their existence. Their main purpose for working was for survival, which they lived of the land for sustenance. Surviving was the name of their game. At the present time, we are the caveman and cavewomen of 21st century. Similarly, survival is still the name of the game as it were millions of years ago. The type of work that we perform supports our very survival by putting food on the table, clothing us, and providing for other needs and wants that we individually seek for ourselves or our family. Simplifying it, it is to meet our economic necessities and in turn we contribute to economic development. It is a never ending cycle for as long as humans continue to live on the planet.
Nowadays jobs are paramount to our survival. As population keeps increasing every year, more jobs will be needed to catch up with the trend each year.
According to worldodometer.info, there are seven billion people who live on the planet earth.1 Aside from people who are already living off the land for sustenance, millions of people will be looking for work or jobs in order to survive, in many cities, all over the world.
Job Creation
According to worldodometer.info reports, the United States has a total population of three

Bibliography: Bygrave, W. D. (1994). Portable MBA in Entrepreneurship. New York: John Wiley & Sons. Carree, M. A., & Thurik, R. A. (2002). The impact of entrepreneurship on economic growth. Rotterdam; Zoetermeer: Centre for Advance Small Business Economics at Erasmus University Rotterdam; EIM Conry, R. (2013, October 29). The importance of entrepreneurship for jobs, people and a better society. Retrieved July 25, 2014, from Udemy.com: www.udemy.com Dearie, J., & GEduldig, C Retrieved July 25, 2014, from Economics21.Org: www.economics21.org Economist Retrieved July 25, 2014, from Economist.com: www.economist.com Go4Funding.com Henderson, J. (2006). Understanding Rural Entrepreneurs at the County Level: Data Challenges. Kansas City: Federal Reserve Bank of Kansas City - Omaha Branch. Kumar, C. (2011, January 11). What is the role of an entrepreneur in economic development? Retrieved July 25, 2014, from Preservedarticles.com: www.preservedarticles.com Mitchell, D. J. (2012, April 14). Forbes. Retrieved July 25, 2014, from Labor, Capital, Entrepreneurship and Economic Growth: www.forbes.com Nadel, J. (2013, October 21). Entrepreneurs are the Playmakers for our economy. Retrieved July 25, 2014, from JackNadel.com: www.jacknadel.com Resources, O. o. (n.d.). Small Business - Big Impact! Retrieved July 23, 2014, from SBA.gov: http://www.SBA.gov Rosen, A. (2014, July 24). How much risk should first time entrepreneurs take on? Retrieved 07 27, 2014, from entrepreneur.com: www.entrepreneur.com Rosen, A. (2014, June 16). Risk is the Admission Fee of Entrepreneurship. Retrieved July 27, 2014, from entrepreneur.com: www.entrepreneur.com Schawbel, D. (2013, December 24). Forbes. Retrieved July 25, 2014, from Steve Case: Why entrepreneurs will rebuild the economy: www.forbes.com Tesreau, K., & Gielazauskas, V. (2005). Etrepreneurship- A driving force in the new economy. Jefferson City: Missouri Department of Economic Department. Wikipedia. (2007, April; September 1). Entrepreneurial Economics. Retrieved July 25, 2014, from Wikipedia: www.wikipedia.com worldodometer.info. (2011, October 31). world-population. Retrieved July 31, 2014, from worldometers.info: http://www.worldometers.info/world-population/ (Worldodometer.info, 2011) (BLS, 2014) 3 (UKessays,2009) 4 (Economist, 2009) 5 (Economist, 2009) 7 (Tracy,2005) 8 (UKessays,2009) 9 (UKessays,2009) 10 (Tracy,2005) 11 (Rosen, 2014) 12 (Rosen, 2014) 13 (Economist, 2009) 14 (Economist, 2009) 15 (Tracy, 2005)