The Small Business Entrepreneur and Social Capital


Although people think of small business entrepreneurs as innovators, wealth creators, and as the major source of jobs and economic growth, often they ignore one other important role. The entrepreneur serves as an outlet for social issues. The global market has created a void because sovereign governments no longer represent people’s interests. Multinational monopolies espouse their own values and promote their own self-interests leaving a hole in promoting the social values of society (Bull, Ridley-Duff, Foster, & Seanor, 2010).

Small business entrepreneurs take advantage of opportunities by taking advantage of opportunities to find innovative solutions to consumer’s problems. The entrepreneur is closer to the consumer and identifies gaps and tries to fill them. Pinelli (2011) described entrepreneurs as creating their own values and culture unlike people working at mature companies. Small business founders are nonconformists and good team players. Entrepreneurs see prospects for breakthroughs where others see trouble. Entrepreneurs like social interaction and excel at networking.

Now is the time to promote small business entrepreneurship representing society’s values. Multinational monopolies want to crowd out or exploit entrepreneurial innovations fearing new competition. Small business entrepreneurs can play a major role in voicing the social interests of society. Baumol (1990) explained economic growth flourishes in times when conditions are right for entrepreneurship. In times when governments suppress entrepreneurship, economic decline results.

Entrepreneurs are the voice of the people. Through social networks entrepreneurs can play an important role in economic recovery to restore social values. Small business entrepreneurs through global networks can yield more power than multinational monopolies. Learn more.

References

Baumol, W. J. (1990). Entrepreneurship: Productive, unproductive, and destructive. Journal of Political Economy, 98(5), 893-921. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=9103252727&site=bsi-live

Bull, M., Ridley-Duff, R., Foster, D., & Seanor, P. (2010). Conceptualising ethical capital in social enterprise. Social Enterprise Journal, 6(3), 250-264. doi: 10.1108/17508611011088832

Pinelli, M. T. (2011). Nature or nurture? Decoding the DNA of the entrepreneur. Kauffman: The Foundation of Entrepreneurship, 1-27. Retrieved from http://www.entrepreneurship.org/en/resource-center/~/media/Entrepreneurship/Files/Resource%20Center/Nature_or_nurture_FINAL.pdf

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