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Engineering 180/280 - Entrepreneurship for Scientists and Engineers - Winter 2021: Entrepreneurship in Engineering


American Entrepreneurship: A Recent Summary

46 Facts You Should Know About Entrepreneurship

Recent (Nov 2016) factoids noted in the press:

  • >400 Million entrepreneurs around the world - translates to 1 in 18 persons own a business of some kind
  • over 50% of the working population works in a small business
  • Small businesses have generated over 65% of the net new jobs since 1995
  • 67% of inventions since World War II that have been created by entrepreneurs
  • There are almost 28 million small businesses in the US and over 22 million are self-employed with no additional payroll or employees
  • 543,000 New businesses created per month (but more employer businesses shut down than start up each month)
  • approximately 75% of all U.S. businesses are nonemployer businesses
  • to classify as a "nonemployer" business you must have annual business receipts of $1,000or more and be subject  to federal income taxes
  • 19.4 million nonemployer businesses are sole propreitorships, 1.6 million are partnerships and 1.4 million are corporations
  • 55-64 is the age group with the highest rate of entrepreneurial activity over the last decade
  • 50+% of companies on the 2009 Fortune 500 list that were launched during a recession or bear market
  • 70% of U.S. Registered voters who think the health of the economy depends on the success of entrepreneurs
  • 21.9 million new jobs created by small businesses between 1989 and 2008

In November 2013, evidence demonstrated a huge increase in entrepreneurship in Latin America

General Databases

Each subject guide will offer many insights and sources of information but the following ones will serve you well.

Annual Conferences

There are many conferences and competitions where new innovators and entrepreneurs can meet and learn from those more experienced. 

Latest Trends in Entrepreneurship

Just a few trackings of trends from different perceptions:

Demographic & Census Sources

In order to determine how many potential customers there may be for a product, having appropriate and relevant data about that population segment is critical.  Census information is collected in numerous ways by federal governments, specific agencies and other forms of data are also valuable such as the number of recorded patients who suffer from a disease, or different conditions.   Many marketing reports and databases summarize market shares and assessments, such as BCC Research, IBIS World, Plunkett Research Online, etc.

Recommended Websites & Resources

Recommended Published Sources, Journals, Videos, Podcasts and Social Media on Entrepreneurship & Engineering:

Latest Info...

Is Entrepreneurship for You?

The SBA (Small Business Association) asks:

Is Entrepreneurship For You?

Starting your own business can be an exciting and rewarding experience. It can offer numerous advantages such as being your own boss, setting your own schedule and making a living doing something you enjoy. But, becoming a successful entrepreneur requires thorough planning, creativity and hard work.

Consider whether you have the following characteristics and skills commonly associated with successful entrepreneurs:

  • Comfortable with taking risks: Being your own boss also means you’re the one making tough decisions. Entrepreneurship involves uncertainty. Do you avoid uncertainty in life at all costs? If yes, then entrepreneurship may not be the best fit for you. Do you enjoy the thrill of taking calculated risks? Then read on.
  • Independent: Entrepreneurs have to make a lot of decisions on their own. If you find you can trust your instincts — and you’re not afraid of rejection every now and then — you could be on your way to being an entrepreneur.
  • Persuasive: You may have the greatest idea in the world, but if you cannot persuade customers, employees and potential lenders or partners, you may find entrepreneurship to be challenging. If you enjoy public speaking, engage new people with ease and find you make compelling arguments grounded in facts, it’s likely you’re poised to make your idea succeed.
  • Able to negotiate: As a small business owner, you will need to negotiate everything from leases to contract terms to rates. Polished negotiation skills will help you save money and keep your business running smoothly.
  • Creative: Are you able to think of new ideas? Can you imagine new ways to solve problems? Entrepreneurs must be able to think creatively. If you have insights on how to take advantage of new opportunities, entrepreneurship may be a good fit. 
  • Supported by others: Before you start a business, it’s important to have a strong support system in place. You’ll be forced to make many important decisions, especially in the first months of opening your business. If you do not have a support network of people to help you, consider finding a business mentor. A business mentor is someone who is experienced, successful and willing to provide advice and guidance. Read the Steps to Finding a Mentor article for help on finding and working with a mentor.

New Books on Entrepreneurship

There are many new books being released on entrepreneurship all the time.  Some are in print and others are eBooks.  The majority of recent releases are eBooks.  Check Library Search, under Library Catalog for books under Entrepreneurship, Social Entrepreneurship, Innovation, Creativity.  You can sort the output by most recent (date) or by relevance to your search term.  Most of the print books will be found at Langson Library in the HD 30 section on the 3rd floor. 

Engineering Resources & Databases

Any database will introduce you to articles, conference proceedings, technical reports in the subject field covered.  General Science & Engineering databases include: