Submitted by Susan Hardee Steger
March 27, 2016 6:00 p.m.
Institute for Enterprise, Inc. promotes the growth of entrepreneurship for our nations’ youth. John Elwell, and Doug Newton co-founders of the local organization held an informational session on March 24, 2014 to educate area residents on the need to educate, mentor, and train young people between the ages of 16 to 24 to encourage an entrepreneurial career path.
A few facts:
- New business creation is at a 30% lower rate than the annual average in the 1980’s.
- Business output per hour worked declined to a 3.5% annual rate.
- 80% of all business startups fail.
Institute for Enterprise hopes to reverse the decline in start up businesses, give back to the community, and teach young people about free enterprise and the logic of the free enterprise market. So far they have provided scholarships, grants, and loans to aspiring candidates.
They are creating an entrepreneurial program with area colleges and universities and they are supporting and establishing vocational training.