Excerpts from the MSU- Global Edge Series Focusing on Global Entrepreneurship

Global Entrepreneurship Week Part 1 – Introduction. Global Entrepreneurship Week is designed to inspire, establish idea sharing, and celebrate the successes of entrepreneurs worldwide. So much of global growth is stimulated by small businesses, that leaders from many countries are eager to encourage a spirit of entrepreneurism in their economies. A large portion of future jobs will come from businesses that are just bursting onto the scene and the entrepreneurs behind them.

Global Entrepreneurship Week Part 2 – Small Business Growth Abroad. With increased globalization, small businesses led by entrepreneurs can play an important role in global growth. In today’s world of interconnected markets and easy technological access, entrepreneurs have increased opportunities to expand their business abroad. Many entrepreneurs around the world have already expanded their small businesses overseas providing economic success and new jobs for many.

Global Entrepreneurship Week Part 3 – Entrepreneurship in Emerging Markets.  Entrepreneurship is the key, long-term growth driver of any country’s economy. Not only do small businesses, in aggregate, add more jobs than large corporations, they are usually the companies leading technological breakthroughs. These small businesses are clearly very important to every country, but they face different challenges and rewards when operating in developed and emerging markets. In developed markets, small businesses must compete against large, successful firms, but enjoy a stable government and well-established business guidelines. Small business in emerging markets, on the other hand, encounter political risks and many times security threats in order to have the opportunity to profit from a vast, untapped business potential. Regardless of the risks, small businesses in emerging markets are attracting capital on a global scale and taking advantage of these key growth markets.

Global Entrepreneurship Week Part 4 – Microfinance.  Microfinance is nothing new; it can be traced back to the 18th century, when banks began lending small amounts of money to local farmers to purchase equipment, livestock, and seed. Microfinance can be described as lending small sums of money to borrowers with little or no collateral. In effect, these loans allow entrepreneurial minded individuals the money necessary to start their own small business. The goal of microfinance is to create a world where entrepreneurs are free from the limitations of poverty.

Today, microfinance is a growing industry with countless opportunities for expansion. There are many non-profit organizations supporting microfinance, as well as a few large financial institutions that have started to invest in it. Microfinance increases entrepreneurship in developing nations by allowing innovators to create and expand business. The main benefit of microfinance is that it is not just quick fix for developing nations, but a model that provides the basis for systematic change in impoverished communities. This is crucial for global entrepreneurship expansion opening the gates for millions of entrepreneurs to start their own businesses.

Global Entrepreneurship Week Part 5 – Policies Enabling Entrepreneurship.  Government leaders around the world are hoping that business start-ups will fuel economies still struggling since the global financial crisis.  To stimulate such growth, policymakers are shaping programs to promote the development of new business ventures. With struggling economies all around the world, new approaches to job creation should center on the promotion of entrepreneurship.  While some business ventures may fail, those that succeed have the potential to revolutionize industries for hundreds of years.  Jobs and wealth creation will rise out of the enormous growth potential of innovative new companies.  World governments may take a variety of approaches to supporting entrepreneurs, and they will gladly reap the economic rewards of those who find success.

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