Better support, incentives, and tools for entrepreneurs make it possible for anyone with an idea to launch a startup knowing that the costs and risks of failure are not as high as they once were.
About This Trend:
Entrepreneurship and startup culture has caused significant shifts in how large and small organizations alike conduct business. And as it becomes more central to our vision for how to create the most innovative, productive economy, the risks associated with starting one’s own business have gone down as resources and support for entrepreneurs skyrockets.
For example, the Startup America Partnership encourages local governments to create the programs and networks that entrepreneurs need to succeed. And coworking spaces, once reserved for digital nomads, have now become home to organizations small and large alike, serving as incubators for innovative ideas and networking and collaboration hubs.
In fact, entrepreneurship is so appealing that a new concept, “intrapraneurship,” has emerged to describe employees of larger companies that have attributes associated with entrepreneurs: vision, risk-taking, higher productivity, and a more innovative approach to solving problems.