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Week of July 4 - July 8, 2005Welcome to the National Dialogue on Entrepreneurship, an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving the innovation economy. Subscribe now to receive your weekly copy. Archived issues are available online. Links to the day's entrepreneurship stories from across the nation and around the world are posted each weekday on the NDE main page - bookmark it and stay informed about the latest entrepreneurship news. |
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New Agenda for Minority Business Development New research funded by the Ewing Marion Kauffman Foundation, reviews the issues and challenges facing America’s minority entrepreneurs.
The New Agenda for Minority Business Development takes a comprehensive look at the state of minority business ownership, the history of minority business development efforts, and potential solutions to ongoing business challenges. The authors note that the minority business sector has grown in recent years. Since the 1980s, minority-owned businesses have enjoyed average annual revenue growth of 10%. Meanwhile, they have grown three times faster than traditional businesses and created 23% more jobs. |
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The Life and Death of New Businesses: New Research New research from the Bureau of Labor Statistics takes a look at how new firms have been faring in the American economy. More specifically, Amy Knaup’s article,
Survival and Longevity in the Business Employment Dynamics Data, examines the survival rates of new businesses started between 1998 and 2002. It finds that 66% of new establishments started in 1998 were still operating two years after they started; forty-four percent were still operating in 2002. These findings do not differ greatly across industrial sectors. However, it’s not surprising that information technology firms show lower survival rates as the study period coincides with the dot-com boom and bust period. Given recent concerns about the future of manufacturing in the US, results from the manufacturing sector are interesting. New manufacturing firms show strong survival rates and increases in employment levels over the study period. |
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It seems that American venture capitalists (VCs) are getting the globalization bug, and are starting to make more investments overseas. Twenty percent of American VCs plan to invest abroad over the next five years. That figure represents a jump from the current numbers. Only 11% of American VCs now invest overseas. Not surprisingly, China and India are the top targets for American investors. These investments are not a one-way street. Foreign VC firms rank the US as the number one foreign location for their investments. Overall, the US still ranks as the top investment destination. Sixty-five percent of all VC firms expect to increase investments in the US over the next five years. These figures come from the
2005 Global Venture Capital Survey, conducted by Deloitte Touche and the National Venture Capital Association. The survey was conducted between February and April 2004. 545 firms responded to the survey. |
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Stem Cell Research: The Next Big Thing? Stem cell research remains a controversial activity here in the US, but there’s no doubt that medical researchers and investors expect that this research will become more important in terms of promoting human health – and developing new businesses – in the coming years. The June 20, 2005 issue of
Red Herring examines the key players in the field of stem cell research, and also looks at business prospects in the field. The series of reports notes that the US continues to dominate stem cell research, thanks to robust research funding and world-class researchers. But, political controversies are serving to erode this lead, as many researchers opt to do their work elsewhere. Moreover, private investors are still wary of investing in a field that may remain years from producing marketable products. Venture capitalists have invested $441 million in sixteen stem cell-related businesses over the past five years, but few large investments appear to be on the horizon.
Red Herring also examines the global scene, and notes that the United Kingdom and Israel are becoming the major players in the field of stem cell research. |
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Offshoring continues to be a regular topic of concern for policymakers, managers and workers. As such, it generates a great deal of commentary and research. Among the latest and most exhaustive research reports on offshoring is the McKinsey Global Institute’s study, The Emerging Global Labor Market. This study seeks to quantify the impact of offshoring. It finds that the potential market for the offshoring of services is quite large: 11% (161 million jobs) of the total global services job market (1.46 billion jobs) could be performed remotely. But, due to financial, political, and business barriers, only a small portion of those jobs will actually be outsourced. McKinsey researchers project that, by 2008, 4.1 million jobs (roughly 1.1% of total demand for service jobs) will be globally outsourced. Outsourcing will grow, but it will remain a relatively small part of global labor markets. |
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