Reporter: TANG Fan 30 March, 2009

A special report on entrepreneurshipA special report on entrepreneurship

An idea whose time has come创业精神的时代已经到来

An idea whose time has come创业精神的时代已经到来

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What’s the idea?

VICTOR HUGO

Today entrepreneurship is such an idea!

创业精神

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Driving factors ofDriving factors ofentrepreneurshipentrepreneurship

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Reasons for entrepreneurship Reasons for entrepreneurship

becoming mainstreambecoming mainstream

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Business environmentBusiness environment“Doing Business”“Doing Business”

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The triumph of entrepreneurship is driven by profound technological change. A trio of inventions—the personal computer, the mobile phone and the internet—is democratizing entrepreneurship at a cracking pace.

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The internet provides a cheap platform for entrepreneurs to build interactive businesses.

Meg Whitman grew rich by developing an online marketplace, eBay, where people could buy and sell without ever meeting.

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The development of “cloud computing” is giving small outfits yet more opportunity to enjoy the advantages of big organizations with none of the sunk costs.

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The mobile phone has been almost as revolutionary.

The technology has allowed entrepreneurs to break into what used to be one of the world’s most regulated markets, telecoms. This has resulted in a cascade of entrepreneurship.

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The mobile phone is becoming the platform of choice for techno-entrepreneurs, thanks to the combination of touch-screen technology and ever faster wireless networks.

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These developments have been reinforced by broad cultural changes that have brought entrepreneurialism into the mainstream. An activity that was once regarded as peripheral, perhaps even reprehensible, has become cool, celebrated by politicians and embraced by the rising generation.

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Why entrepreneurship becoming mainstream?

Some ReasonsSome Reasons

1. Today entrepreneurship is very much part of economics.

2. The social contract between big companies and their employees has been broken.

3. So many institutions have given it their support.

4. The media have also played a part.

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Business environmentBusiness environment

The world’s governments are now competing to see who can create the most pro-business environment. In 2003 the World Bank began to publish an annual report called Doing Business, rating countries for their business-friendliness by measuring things like business regulations, property rights and access to credit.

The world’s governments are now competing to see who can create the most pro-business environment. In 2003 the World Bank began to publish an annual report called Doing Business, rating countries for their business-friendliness by measuring things like business regulations, property rights and access to credit.

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This “naming and shaming” caused countries to compete fiercely to improve their position in the World Bank’s rankings. Doing Business is also encouraging countries to learn from each other.Since 2004 various countries have brought in more than 1,000 reforms.Most rich countries are working all the time to make it easier to start new businesses.

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Deep impression on a few words

In a knowledge-based economy, entrepreneurs play a central role in all aspects

In a knowledge-based economy, entrepreneurs play a central role in all aspects

New technology provides a cheap platform for entrepreneurs to build interactive businesses.

New technology provides a cheap platform for entrepreneurs to build interactive businesses.

Governments should work all the time to improve the business environment and make it easier to start

new businesses.

Governments should work all the time to improve the business environment and make it easier to start

new businesses.

The success of entrepreneurship is driven by profound technological change.

The success of entrepreneurship is driven by profound technological change.