Magazine article University Business

Small Business Entrepreneurship Means Big Business in the New Economy

Magazine article University Business

Small Business Entrepreneurship Means Big Business in the New Economy

Article excerpt

WHICH WIDELY RECOGNIZED INSTITUTIONS OF HIGHER learning come to mind when you think "Big Business"? One may think of world class research universities and nationally ranked business schools like those at Harvard, Stanford, Baylor (Texas), Babson (Mass.), or the University of Chicago. Conversely, global economists, political thought leaders, and higher ed futurists are now looking to "small business" as the core accelerator in the emergent global economy.

Did you realize that small businesses represent the preponderance of all business firms in the United States? Indeed, small businesses create three out of four new jobs, and generate more than half of our nation's private, non-agricultural gross domestic product. So, we offer these several illustrative examples of a new breed of business school--schools focused on the teaching and learning of 21st-century entrepreneurial, small business leadership skills.

Walsh College (Mich.) has transformed the educational attainment and career preparation needs of metropolitan Detroit--despite a cataclysmic decline in the city's biggest business, the automotive industry. Uniquely, Walsh was born out of the automotive boom, preparing upper and middle management personnel for careers within the automotive industry. In fact, president and CEO Stephanie Bergeron was once a finance executive at General Motors and Chrysler. Today, Walsh offers small business programs focused on creating and running family businesses and early stage startups, providing educational programs aimed at fostering small and middle business entrepreneurial leadership skills. Walsh's Adams Entrepreneurial Fellowship program pairs students with small and middle business mentors. …

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