April 07, 2011

High-Impact Entrepreneurship: An in-depth look at the future of South Carolina business

COLUMBIA, SC -- Today, 100+ business and community leaders joined New Carolina's conversation on High-Impact Entrepreneurship (HIE). The frank discussion covered the issues facing entrepreneurs, how people who go into business for themselves affect the state's job market, and ways to encourage our citizens to reach for the brass ring and become entrepreneurs themselves.

High-impact firms double their sales in at least four years.

"High-Impact Entrepreneurs are the ambitious entrepreneurs who run innovative, high-growth businesses that create thousands of jobs, millions in wealth, and limitless opportunity," according to the global nonprofit, Endeavor.

Today's discussion on High-Impact Entrepreneurship (HIE) featured a rock-star panel of experts in the field, including Dr. Doug Woodward from USC's Moore School of Business and Dr. Kurt Dassel of the Monitor Group in Cambridge, Massachusetts, as well as entrepreneurs from across the state.

"Small firms [0 - 19 people] account for 26.3% of total employment in South Carolina, but 51% of all net employment gains in the state," said USC's Woodward, who presented results of a new study on entrepreneurship. See the link below to view the presentation.

2.7% of all firms in SC created 66% of new jobs in the last five years, according to Woodward.

"This year's event brought together a wide range of South Carolina's private and public-sector leaders who discussed approaches for building a stronger base of high impact, homegrown firms," said Garry Powers, Chair, New Carolina's Entrepreneurship Task Force.

Also see local coverage below from The State and the Columbia Regional Business Journal.

The State:   Growing new businesses Small businesses key to turnaround

Columbia Regional Business Journal:   Entrepreneurs key to growing jobs in S.C.

Click here to view Dr. Woodward's presentation on his study of entrepreneurship.

Click here to view Dr. Dassel's presentation on driving entrepreneurship in a regional economy.

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