There is growing and widespread interest among policymakers at all levels of government throughout the world in recent years to promote entrepreneurial-friendly environments and entrepreneurship in terms of self-employment and business ownership.  This interest is motivated by a substantial body of research indicating that entrepreneurs spur the diffusion and implementation of innovative ideas, create new products, services and markets.  In addition, there is convincing evidence demonstrating the importance of entrepreneurship for increasing social welfare, providing a route out of unemployment and poverty.

There also appears to be consensus in the literature that individuals are created with entrepreneurial insight, skills and talent.  Well-developed training programs, with targeted outreach can enhance this spirit of entrepreneurship providing independence, freedom and personal liberty.   Programs that teach basic entrepreneurial skills to middle and high school students may be especially valuable for children from disadvantaged backgrounds, and may be one way to encourage their interests in academic achievement more generally. 

At a time when the entire world seems to be heading toward points of inflection, the United States is on the verge of becoming the world’s first Entrepreneurial Nation.  Recent statistics show that half of all new college graduates not believe that self-employment is more secure that a full-time job.  Today, 80% of the colleges and universities in the U.S. now offer courses on entrepreneurship; 60% of Gen Y business owners consider themselves to be serial entrepreneurs, according to Inc. magazine. Tellingly, 18 to 24-year-olds are starting companies at a faster rate than 35 to 44-year-olds. And 70% of today's high schoolers intend to start their own companies, according to a Gallup poll. Malone, M (2008, May) The Next American Frontier.The Wall Sreet Journal [online WSJ.com]

Microfinance institutions throughout the world are also creating a wave of new micro-entrepreneurs in order to improve the livelihood of their clients and help further their mission of poverty alleviation. Studies have shown the important effects of entrepreneurial training on microfinance institutions with regards to repayment of loans and client retention.  Entrepreneurial training leads to better business practices and increased revenues and profits with instructions provided in the areas of: separating money between business and household, reinvesting profits in the business, maintaining records of sales and expenses, and thinking proactively about new markets and opportunities for profits.  

It is clear that the challenge now is to strengthen our entrepreneurial economy and the growth it brings in order to meet the multiple economic challenges we now face.  The Mark Victor Hansen Foundation is committed to providing entrepreneurship skills to young entrepreneurs and self-employed individuals in developing countries. A strong education system, including the encouragement of entrepreneurial thinking is vital to the development of the creative and skilled population that will generate our future global economy, which is critical to global sustainability.