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The Shift to the Entrepreneurial Society

The Shift to the Entrepreneurial Society

A Built Economy in Education, Sustainability and Regulation

Edited by Jean Bonnet, Marcus Dejardin and Antonia Madrid-Guijarro

In the constant challenge economies face to grow and adapt, entrepreneurship and innovation are considered key factors. This impressive book shows the complementary and decisive role that education, access to an efficient financial system, and regulation may have in creating an entrepreneurial society.

Chapter 19: Understanding the Entrepreneurial Society: Some Concluding Comments on a Work in Progress

Jean Bonnet, Marcus Dejardin and Antonia Madrid-Guijarro

Subjects: business and management, entrepreneurship


Jean Bonnet, Marcus Dejardin and Antonia Madrid-Guijarro If the total number of entrepreneurs differs among societies, their contribution to growth differs according to their allocation between activities more or less productive (Baumol, 1990), and according to periods and cultures. The United States is characterized by a vibrant economic sector of high growth, high potential firms, supported by complementary industries and government initiatives and programmes. Entrepreneurial firms have been the mainspring of the nation’s economic growth over the last 30 years by making a significant contribution to wealth creation, innovative capacity, and job creation (Schramm, 2009). Remarkably, several new companies appear as initiators but also as leaders of new industries, with, for example, industries linked to the technologies of information and communication, biotechnologies, eco-industries, animated pictures, etc. In the United States, ‘[y]oung firms [. . .] account for roughly two-thirds of job creation, averaging nearly four new jobs per firm per year. Of the overall 12 million new jobs added in 2007, young firms were responsible for the creation of nearly 8 million of those jobs’ (Kauffman Foundation, 2009, p. 2). In France, Fontagné (2008) notes by comparison the low number of new innovative start-ups with a particular deficit in the creation of companies in IT engineering and other high technology areas. Further, Lebret (2007) states that ‘while the greatest American successes among entrepreneurial firms show tens of thousands of employees and these firms are worth tens of billions of US dollars, in Europe successes are rather creating firms with thousands of employees...

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