When discussing entrepreneurship – particularly with other entrepreneurs – there tends to be a general assumption that it is a force for good. And one that is extremely powerful – with the potential to transform and grow economies. But this may not necessarily be the case. Experts at the ‘Entrepreneurs are born, not made’ debate, hosted by Barclays discussed entrepreneurship’s powers, whether it should be encouraged and, if so, how.
“There’s an assumption that entrepreneurship is a unilateral force for good,” said Greg Davies, head of behavioural and quantitative finance at Barclays Bank. “And yes that’s true to an extent at society level where we want people to be proactive about things and take chances. But we also need to realise that on an individual level, it can be incredibly dangerous to essentially put it all out on the 17 and roll the roulette wheel.”
My quick reaction to this article is that entrepreneurship has played a huge role in American business history and it will continue to do so in the future. Is it always a force for good? No. Nothing is always good. Too much of anything, including entrepreneurial expansion can be overly disruptive to economies. And too much financial, human and technological capital can be thrown into the entrepreneurial engine, drawing resources away from growing existing businesses. We do need to grow the next generation of growth companies in Ashtabula County. The entrepreneurial path will be an important one to create this next generation of growth companies. Stay tuned.