Not to self-aggrandize, but this report, authored by me, was released the other day. I started with a question posed by our Kauffman colleague Keith Mays: how many companies on the Fortune 500 list were founded during a recession? It turns out that well over half of the companies on the 2009 list started during a recession or bear market.
This, in and of itself, is remarkable. But it also turns out that the Fortune figure, when broken down by decade and when looked at in the context of recent Census papers that Kauffman has helped fund, fits neatly into a narrative of the American economy moving from the bureaucratic capitalism of Galbraith's New Industrial State to the entrepreneurial capitalism of the past two or three decades (and the entrepreneurial capitalism of a prior era). The composition of the companies on the Fortune list is rather dynamic (surprisingly, I think), but even more importantly, startups have been enormously important in terms of job creation. Without startups, we would have had only a handful of years in which overall net job creation in the economy was positive.
In fact, startups are much less sensitive to recessions than the overall economy, which seems to run counter to conventional wisdom. In any case, the research paper tries to tell a story: we would appreciate any and all feedback.
For those of us who started a successful growth venture during a Recession ( mine in 1983 ), not surprising at all.
The Obama Admnistration's approach is the exactly opposite of what we need to foster creation. The Healthcare plan is a killer for startups.
In addition, we founded our software company in Pennsylvania, one of the worst taxing states. I would do it somewhere else.
The career politicians just do not get it -- more taxation and compensation caps reduce entrepreurial incentive.
Michael Pochan BS ChE MBA
Adjunct Teaching Professor
Tepper School of Business
Carnegie Mellon
mpochan@cmu.edu
Posted by: Michael Pochan | June 16, 2009 at 12:22 PM
It is pretty certain that the Replica handbags you are looking for is a must-have handbag. Of course, who doesn't and not especially if it's one of the
Posted by: replica watches | July 15, 2010 at 06:33 AM