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March 12, 2008

Determinants of entrepreneurship

Entrepreneurs are essential to the economy because they are the people who take risks to start new companies and develop new products. Do we have any information suggesting what kind of environment is most conducive to encouraging entrepreneurs. Listen

Dr. Mike Walden, North Carolina Cooperative Extension economist in the College of Agriculture and Life Sciences at N.C. State University, responds:

"Actually, we do have a new study that related the levels of entrepreneurship through several factors. Firstly, the study found that you tend to have more entrepreneurs in regions that have more colleges, that have more information arts companies and actually have more foreign-born workers. All of those factors were related to the level of entrepreneurship. Entrepreneurs also flourish where there are more financial institutions available for financing their projects. And lastly and probably no surprise, researchers have found that entrepreneurs are more active where there's easy Interstate highway access and where there's broadband Internet available. So all these factors are things that economists have found are related to this group of risk takers that are very essential to the economy."

Posted by Dave at March 12, 2008 08:18 AM