The Importance of Teaching Entrepreneurship

By Brett Pawlowski

Most people would agree that entrepreneurs are the lifeblood of the US economy. So what does it mean when, for the first time in 35 years, the number of business deaths exceeds the number of business startups?

The graph below, from Gallup, paints a startling picture:

Gallup poll

At the moment, we are now closing 70,000 more companies a year than we’re opening. And that’s bad news. It means fewer opportunities for workers, especially first-time workers (since small businesses are much more likely to give them their first shot at a job). And it means our economy isn’t nearly as strong as some might suggest.

What does this mean for educators: As Jim Clifton, Chairman of CEO of Gallup, notes in his article: “To get back on track, we need to quit pinning everything on innovation, and we need to start focusing on the almighty entrepreneurs and business builders. And that means we have to find them.” Which means it’s time that we put a real focus on introducing students to the principles (and benefits!) of entrepreneurship.

Read more of the Gallup article: