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Entrepreneurship Today

The Resurgence of Small, Technology-Driven Businesses in a Dynamic New Economy

  • Book
  • © 2022

Overview

Authors:
  1. Swati Bhatt

    1. Department of Economics, Princeton University, Princeton, USA

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  • Provides a coherent synthesis of pandemic-driven shifts in attitudes and changes in the business landscape
  • Takes the reader on an aerial overview of the dynamism of this new economy
  • Shows how a new social consciousness regarding the power of start-ups can overcome inequality

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xvi
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  2. Patterns in the Data: 1994–2021

    1. Front Matter

      Pages 1-1
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    2. Introduction

      • Swati Bhatt
      Pages 3-29

    3. Business Dynamism Over 1994–2020

      • Swati Bhatt
      Pages 31-49

    4. Entrepreneurial Activity at the State Level

      • Swati Bhatt
      Pages 51-74

    5. The Impact of the Great Recession

      • Swati Bhatt
      Pages 75-85

    6. The Mature Startups

      • Swati Bhatt
      Pages 87-119

  3. Entrepreneurship and Community - Creating a Culture of Risk-Taking

    1. Front Matter

      Pages 121-121
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    2. Is It About Technology?

      • Swati Bhatt
      Pages 123-157

    3. The Entrepreneurial Culture

      • Swati Bhatt
      Pages 159-175

    4. Experience, Age, Education, Gender, and Race

      • Swati Bhatt
      Pages 177-198

    5. The Big Quit: Reimagining Lifestyles

      • Swati Bhatt
      Pages 199-210

    6. Conclusion Culture, Society, and Government

      • Swati Bhatt
      Pages 211-221

  4. Back Matter

    Pages 223-233
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Keywords

About this book

This book explores how the U.S. has been in the throes of a startup revolution, fueled by a risk-taking culture. There has been a growth of young startup from 1994, accelerating after 2010 through the present day. Most entrepreneurial activity is in the professional and business services sector, which comprises technical services as well as research and development.

However, new establishments face a low survival rate, suggesting that starting businesses is not the problem, sustaining their development and growth is the principal challenge. A paradox is presented by the simultaneous presence of declining labor force participation rate among prime working age adults, a decrease in productivity growth rates in the past decade and a startup revolution.

There are five native skills that are acquired by experience rather than formal education: resourcefulness, practical intelligence, over-optimism and personal initiative. These are built on a foundation of attributes that form the culture of risk-taking and decision-making. Underlying values and beliefs include collaboration, openness to new ideas, an awareness of the environment and the needs of people in your radius of interaction. A strongly embedded community forms the essence of entrepreneurial culture, and its values cannot be taught, they must be learned through experience.

 

Reviews

“Swati’s work is a vital resource for technology entrepreneurs who seek to untangle the myriad forces at play ranging from the macroeconomic and systematic to the cultural and psychological.” (Chris Kuenne, Founder & CEO, Rosemark)

Authors and Affiliations

  • Department of Economics, Princeton University, Princeton, USA

    Swati Bhatt

About the author

Swati Bhatt received her Ph.D. in Economics from Princeton University in 1986 and has been a faculty member there since 1992. Her research interests include the economics of digitization and industrial organization with a focus on the technology industry. Bhatt was also a research economist at the Federal Reserve Bank of New York (1985-1990) and taught at New York University's Stern School of Business (1990-1992). Her publications include: How Digital Communication Technology Shapes Markets (2017) and The Attention Deficit: Unintended Consequences of Digital Connectivity (2019).

Bibliographic Information

  • Book Title: Entrepreneurship Today

  • Book Subtitle: The Resurgence of Small, Technology-Driven Businesses in a Dynamic New Economy

  • Authors: Swati Bhatt

  • DOI: https://doi.org/10.1007/978-3-031-11495-3

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Social Sciences, Social Sciences (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022

  • Hardcover ISBN: 978-3-031-11494-6Published: 28 October 2022

  • Softcover ISBN: 978-3-031-11497-7Published: 28 October 2023

  • eBook ISBN: 978-3-031-11495-3Published: 27 October 2022

  • Edition Number: 1

  • Number of Pages: XVI, 233

  • Number of Illustrations: 1 b/w illustrations, 58 illustrations in colour

  • Topics: Industries, Business and Management, general, Start-Ups/Venture Capital, Economic Growth

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