Serving Second-stage Entrepreneurs

September 30, 2010 | Mark Lange

Today, more regions are turning to entrepreneurship as an economic-development strategy. Yet entrepreneurship covers a broad spectrum that includes many different categories. It is important to understand these distinctions—and be able to identify growth companies that are positioned to drive innovation and sustainable new jobs—because the way the term “entrepreneur” is used today is not necessarily a synonym for growth. For example, lifestyle entrepreneurs create companies for reasons unrelated to expansion. Independence is a decisive incentive for them. Granted, many lifestyle entrepreneurs may have employees, but significant growth is not a primary objective for most.