For every startup success story out there, there are so many more that have come crashing down. In fact as stated in our article “Why entrepreneurs fail” 9 out of 10 startups fail!
Unfortunately the appallingly low number of successful entrepreneurs is not just bad for entrepreneurs, but it is bad for our society and humanity as a whole.
Successful entrepreneurs are a fantastic force for good, here’s why:
1. They create more jobs than the big companies do.
In fact, small firms actually employ over half of the private-sector workforce and created nearly two-thirds of new jobs over the past decade and a half, an astonishing fact and 60% of all jobs in the UK.
2. They contribute more to the economy than the big companies do.
GVA (Gross Value Added) is one of the primary indicators used to gauge the health of a country’s economy and represents the value of all goods and services produced over a specific time period.
So, they may be small, but smaller companies are contributing significantly to the health and future of our economies.
3. They are great role models
Entrepreneurs are great role models, not just to their friends and families, but anyone that they come into contact with by displaying passion, resilience and the rewards of working hard & smart. You can read more about this in our piece on “Why being a Parentpreneur is a really good thing to do for yourself and your family”.
4. They solve real problems that face the world
One great example of this would be Tesla who are driving the entire automobile industry towards electric cars. This will contribute to helping climate change, which may be the biggest risk to the future of humanity.
Facebook have gone far beyond sharing photos between friends, to helping people to let their friends and families know that they are safe after major disasters.
GiveVision are building augmented reality glasses that help the severely short-sighted to be able to see.
5. They give significant time and money to good causes
Once entrepreneurs are successful, they may resemble corporate fat cats, but don’t be fooled…
- Sean Parker (cofounder of the file-sharing computer service Napster and first president of the social networking website Facebook) brought together cancer trials which cost $250 million, worth 50 years of research.
- Bill Gates (co-founder of Microsoft) may cure Malaria in his lifetime, a disease which kills more humans than any disease in history.
- Blake Mycoskie (founder of TOM’s Shoes) is providing shoes to those suffering with poverty via their “Get one, give one” model.
- Konrad Brits (founder of Falcon Coffees) is helping address poverty and sustainable agriculture through an innovative approach to coffee trading.
6. They improve gender equality of leaders and influencers
We have more female entrepreneurs than ever before: Women now own 36% of all businesses which is a massive increase of 30% since 2007. This is sounds disheartening until you compare this with less than 4% of Fortune 500 CEOs that are female!
7. They act as role models for good parenting
Parents are taking over from the teenage americans in Silicon Valley. These parents are no longer willing to work every hour god sends and never see their children, they are looking for alternative ways to make a living that doesn’t eat into the precious time they should be spending with their families.
In fact, a recent survey of 1.5k small business owners, found that 79% of parents consider their business to be “very successful” and “quite successful” compared with 67% of non-parents, what a great accolade for those aspiring Parentpreneurs out there.
8. They provide part time and remote-working opportunities
Parent entrepreneurs are far more likely to hire people who need or want to work from home (which could be due to looking after family members, people who find it difficult to leave their home e.g. due to disability or illness, or just seeking greater work-life balance).
There are so many more people out there craving the flexibility not always offered by the larger companies. In fact, for a position in my software business that I recently advertised for 20 hours per week, working from home, we had over 2,500 applicants for one role!
Entrepreneurs will increasingly provide the opportunities to an often under-supported part of society.
So, that’s why I think Parentpreneurs are so good for the world!
Please let me know what you think. I’d particularly love you to encourage others to consider entrepreneurship as a result (or make the leap yourself) – you’ll be helping the world be a better place.