The New Builders

Viac o knihe

Despite popular belief, entrepreneurship in the U.S. is declining, a trend that began before the 2008 Great Recession and has worsened due to the Covid pandemic. New firms are emerging at a slower pace, employing fewer workers, and are concentrated in a few major cities. Meanwhile, large chains like Amazon are increasingly displacing local businesses. This narrative highlights the next generation of entrepreneurs, emphasizing that the future of American entrepreneurship lies in unexpected places, particularly with women and entrepreneurs of color. Unfortunately, the identities of these New Builders remain largely unrecognized, and strategies to support them are underdeveloped. The common perception of a "typical" entrepreneur—a young, white male in tech—misrepresents the reality. This stereotype overlooks the growing diversity among American entrepreneurs, who are increasingly female and non-white. According to the Kauffman Foundation, the number of women-owned businesses surged 31 times from 1972 to 2018, rising from 4.6% to 40% of all firms. Notably, women of color are the fastest-growing group, responsible for 64% of new women-owned businesses. In the coming years, women are expected to constitute more than half of all entrepreneurs, reshaping the landscape of American entrepreneurship.