Students who are pursuing a business degree and are interested in a career in entrepreneurship may benefit from initiatives that encourage economical improvements of communities, which could allow businesses to be more successful and efficient.
Babson College has established the Babson Entrepreneurship Ecosystem project, which aims to enhance policies, structures, programs and climates that will benefit societies interested in improving entrepreneurial opportunities. The campaign outlines a list of rules that can help leaders across the the world make their communities more supportive of entrepreneurial development.
Among the ideas suggested by this project, Babson's campaign recommends supporting entrepreneurs with high potential, working towards visible successes, early engagement of entrepreneurship stakeholders, continuously experimenting with ways businesses can flourish and removing bureaucratic obstacles.
Daniel Isenberg, professor of management practice at Babson, stated that "the key is in taking a holistic view of the entire ecosystem, using principles that have already borne the test of time, and engaging the entrepreneurship stakeholders in a process of program development and change." He added that this project can "accomplish a lot of change with what is already known."
According to PayScale.com, a research company, small business owners make $34,706 to $74,220 during their first year
