logo
Log in using TwitterLog in using Facebook Forgot login?Register
News & Features betterbusiness Entrepreneurs lay the economic golden eggs

Entrepreneurs lay the economic golden eggs

Written by Julie Meyer on Tuesday, 06 April 2010 13:02
Rate this item
(0 votes)

jm picWho are the goose in society who lay the golden eggs? Where does employment come from, and how do we keep our standard of living from reverting to the (much lower) global average? The key facts are striking.

In the US, the Kauffmann Foundation, one of the world's largest think tanks devoted to entrepreneurship, determined that virtually all net new jobs created in the US between 1980 and 2005 were created by firms five years old or less. That is about 40m new jobs. In the UK, NESTA, the innovation agency led by Jonathan Kestenbaum, has similarly found that the 6 per cent of UK firms which are defined as "high-growth" created 54 per cent of the new jobs.

Here's my recipe for success. If you want to host a great party, you need to have the best music, food and guests. You have to advertise that the party is happening, make it easy to find its location, choose a great theme, and most of all, you have to have a consistent reputation for respecting those who will come to the party. Finally, you have to let the fringe go a bit wild in the wee hours of the morning, and encourage everyone to talk about your party as a sort of pre-marketing for the next party.

All of this applies if we want to continue to host a very special party - that for entrepreneurship in the UK. Society's risk-takers will migrate to the party which welcomes them best, and where they can unleash their energies most effectively. We are fortunate that there are people in society who are obsessed to bring the new to life, and choose to live abnormal lives doing so. 

I always enjoy meeting new entrepreneurs. Last Thursday night, I spoke at the annual gala dinner and Awards Ceremony of the Asian Business Network (ABDN) in Leeds. Arshad Chaudhry, the chairman, welcomed 800 of the leading business people from the region. Talk about excitement and energy.

I've always been impressed by Asian community's wonderful work ethic, their creativity, and their drive. Their historical "outsider" status  - that Baroness Sayeeda Warsi spoke so movingly of at the dinner - has led them to become huge contributors to society as business builders. The ABDN has fostered a great and consistent culture of entrepreneurship. We must embrace the drive and hard work of its members - as well as that of all other entrepreneurs in the UK.

 

Julie Meyer is chief executive of Ariadne Capital and a Dragon on the BBC's Dragons' Den Online.

Last modified on Tuesday, 06 April 2010 13:07
Julie Meyer

Julie Meyer

Julie Meyer is one of the leading champions for entrepreneurship in Europe. With over 20 years investment and advisory experience helping start-up businesses, she is the well known founder and CEO of Ariadne Capital, founder of Entrepreneur Country, Co-Founder of First Tuesday and Dragon on BBC's Online Dragons Den.

Website: www.entrepreneurcountry.com/blogs/julie-meyer

Add comment


Security code
Refresh

Latest Comments

Community Coffee Lounge

Welcome to the Entrepreneur Country Coffee Lounge.

coffee_lounge

With a host of viral videos, games, cartoons and puzzles, its your time to relax.

entrepreneurcountry magazine

May                                                April
Click to view the full digital publication online                   Click to view the full digital publication online

Click here to view the latest issue of Entrepreneur Country Magazine with Charlie Mullins, Paddy Ashdown, Julie Meyer & more.

Related Media

Facebook/Twitter

EC Tweets

Loading...

Last 4 tweets from EnCountry:

Entrepreneur Country Polls

No polls found