The recently released Kauffman Index of Entrepreneurial Activity shows that Georgia is the number one state in the US for entrepreneurial activity.
Georgia, which moved up the list from third place in 2007, boasts 590 entrepreneurs per every 100,000 adults in the state. Other states with high entrepreneurial density include: New Mexico, Montana, Arizona, Alaska and California.
Robert Litan, vice president, Research and Policy at the Kauffman Foundation, explains, “The overall pace of entrepreneurial activity (throughout the US) did not suffer during the recession in 2008, which is great news. This is consistent with historical patterns, to the extent we understand them, which indicate that entrepreneurial activity is largely insensitive to the economic cycle. So far, at least through 2008, this pattern is holding up.”
Last year—each month— 320 out of 100,000 adults created a new business. That means that over one half million new business ventures are initiated every month.
This should not scare you away from trying to build or grow your consulting or coaching practice, or creating your entrepreneurial endeavor. In fact, take heart that the bad economy is not, and should not, be a deterrent to business start-up.
And all that competition? Not a problem. It would be a very disheartening message if others did not see business start ups and entrepreneurship as viable.
Competition is never a bad thing. Instead, competition raises the bar for all businesses while helping to collectively educate the consumer about your type of product or service.
Besides, for an Obvious Expert, competition is not a challenge; it’s breakfast food!
Scroll the document below to read the report from the Kauffman Entrepreneurship Summit held this past April in Kansas City. And while you are reading, click the YouTube video in the upper right to listen to Willie Nelson and Ray Charles singing, Georgia on My Mind; that will sweeten anyone’s day.
Kauffman Entrepreneurship Summit
