The study of entrepreneurship is vital to continued growth and innovation in our
society. At its most basic level, entrepreneurship is a means for individuals to lift
themselves out of poverty and to create jobs for others. The new businesses that are
started each year offer the promise of wealth and independence to the entrepreneurs
who take on the inherent risks. At a broader level, however, the entrepreneurs who
bring truly new and innovative products and services to the market offer something
even more important to all members of the community. These are the new businesses
that are responsible for much of the economic growth in our economy and
the progress in our standard of living. The long history of new business ideas that
changed our daily lives is familiar to all of us. From the radio and the television to
the personal computer and new medical technologies, these innovations benefited
– and continue to benefit – many more people than the entrepreneurs and their
employees. Innovations promise greater prosperity for society as a whole.