Are entrepreneurs born or made? This question is the subect of this recent blog post at Tech Crunch. The post cites a survey of entrepreneurs that shows that over half did not have entrepreneurial parents and were the first in their family to start a business. And while you read about an occasional high school or college dropout who achieves great success, the overwhelming majority of successful entrepreneurs have college degrees.
But the most interesting part of the study found that there are 600,000 businesses started every year. Every year! Less than 1% of those businesses become high scale growth businesses. Those high scale growth businesses are vital to our economy. These new firms have added all of the net incremental jobs to the economy since 1980. This is about 40 million jobs. Here’s to entrepreneurs!