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Have entrepreneurs lost their spirit in the U.S.?


entrepreneurEntrepreneur magazine had an article in their December issue about the decline in the entrepreneurial spirit in the U.S. 

"The Small Business Administration recently did a study that showed that the U.S. has dropped to third place from first place when it comes to fostering entrepreneurial creativity and zeal.  The U.S. now ranks behind Denmark and -brace yourself- Canada! So what are we doing wrong?" 

Here are some answers given by Entrepreneur magazine readers:

  • Complacency
  • The cost of insurance, licensing, small business taxes and hiring employees is astronomical.  Most mom and pop businesses are on a shoestring budget.
  • Americans are not developing new technologies to sell on the global market.  We need to slow down our consuming and increase production in order to export more goods.
  • By the time young executives get out of student loan debt, they are at a point in their lives where it is hard to take the risk of entrepreneurship.  There are student loan forgiveness programs for teachers...why not entrepreneurs?
  • Running a business is like balancing on a log in the water.  Fancy footwork will keep you up, but it takes a bulldog tenacity to stay there.  With so much negativity, undermining, and unpatriotic chin-way, it discourages honest, hard-working people from giving it a go
  • The education system is our main problem.  There are no programs readily available to foster entrepreneurial spirit
  • Bureaucracy

Does the U.S. have a problem with a lack of entrepreneurial spirit?  Why do you think the entrepreneurial spirit has declined? What can we do to get it back?


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