Utility Mamimization Based Approaches to Entrepreneurship in Local Economic Development
There is one big problem with the entrepreneurial approach to boosting local economic performance: society has decided not to go that way - not with its mouth, but with its pocket books. One third of all retail sales are conducted through Wall Mart. Most Malls, which generate the bulk of the retail traffic are filled up with chain stores for the most part. The chances of success of a new startup are "somewhere between slim and nothing, and slim's out of town" (as a friend once commented). Another said fifteen years ago, "I got in under the wire. I doubt it is even possible now".But then again, there is another acquaintance who has made out very well and noted in light of his travels around the world that "Canada is one of the few countries in the world where the option is still open if one wants to make it work - it is almost impossible or forbidden in most other countries."
High -end small business, i.e. not the small business that is better termed "micro-business", is often understood best by the motivations of micro-economic theory. The people who go this route do weigh out opportunity costs of employment and self employment, and usually start out with sufficient capital, contacts, know how, education and experience, plus that extra "whatever" to put together a team and take a business through the heady days of startup.
The links below are some interesting sites related to boosting self-employment in order to develop the local economy.
Links To Furhter Resources:
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