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Entrepreneurship >> American Dream Entrepreneurship is considered to be the “American Dream”. President Biden's Job Plan will give access to credit and venture capital for many Americans including women and minorities. The barrier to entry to becoming an entrepreneur is the lowest it's ever been right now. But, since 90% of startups fail, you need to be in the 10%.

Being an Entrepreneur: The American Dream
Success is often linked with entrepreneurship, which is also considered to be the “American Dream”. This is the idea of breaking the cage of a fixed salary and starting to work for yourself. Rather than creating wealth for somebody else and receiving only a fraction of what you could make on your own, you can create a business of your own that can earn multiple times more than your previous, yet secure, job. There are more than 28 million small business owners in America.

Entrepreneurship Isn’t the American Dream, It’s an American Reality
Millions of immigrants came to the United States because they know this is the land of “Anything is possible.” Across the United States, immigrants are starting and building successful businesses that create good American jobs and promote our country’s economic growth. Immigrants, or their children, also founded more than 40 percent of Fortune 500 companies, which collectively employ over 10 million people and generate annual revenue of $4.2 trillion.

Why America Is Still the Land of Opportunity
The Old American Dream is that you go to college, get a degree, go directly into a well-paying job in your field, work there for 30 years, then get a pension plan and a Rolex when you retire. The lesson there for entrepreneurs is to stay focused on the present. The New American Dream is a version of the entrepreneurial journey that is unlike anything that has ever existed before. The barrier to entry to becoming an entrepreneur is the lowest it's ever been right now. The biggest difference between the Old American Dream and the New American Dream is taking ownership of your destiny. With the New American Dream, you can start whenever you want.

America's Small Businesses in the Biden Era
President Joe Biden wants to make small businesses a centerpiece of his economic policy plans. Women and minorities will receive special attention. The Small Business Administration (SBA) has some 900 small-business development and counseling centers. All of these are going to be the center of an enormous effort to make sure we get small businesses, particularly underserved women-owned businesses and minority-owned businesses, back on their feet. The SBA will play a key role in Biden's agenda.

Now Is a Great Time to Start Your Own Business
Since 2020, 3.2 million people have filed for a US business application. Why now is a great time to start a business:

  • There’s plenty of room in the market. The U.S. lost more businesses during the first three months of the pandemic than it normally does in an entire year, with hundreds of thousands of businesses permanently shutting their doors. COVID-19 has accelerated the process of transformation, creating opportunities for new businesses to embrace a new future.
  • Crisis breeds opportunity. General Motors. Microsoft. Uber. Airbnb. Some of the largest and most successful companies in the world were started during times of economic crisis. If you’re considering starting a business during this one, you’re in good company.
  • Many have more free time than ever before. Chances are, the commute to your home office is a whole lot shorter than your commute to work. If working from home has freed up time in your schedule, use it to start a side hustle outside of regular office hours.

Small business ownership is a cornerstone of wealth-building
  • The American Jobs Plan. President Biden is calling on Congress to invest $31 billion in programs that give small businesses access to credit and venture capital. The plan will provide flexible grants and low-cost capital to help entrepreneurs of all backgrounds create and maintain jobs.
  • Entrepreneurship for all minority communities in the US
    President Biden's Executive Order on Racial Equity. The proposal includes funding for community-based small business incubators and innovation hubs to support the growth of entrepreneurship in communities of color and underserved communities. That was the most remarkable real step to make all people equal and get equal economical possibilities since our Founding Fathers declared that All men are created equal and All people should be and have to be treated the same way

Bottom Line

Create your virtual team, reduce startup risk through diversity, and motivate team members to learn new job skills. Test your team via applying for a job as a whole team. Start your own business with a very good chance to be in 10% of successful startups. Use entrepreneurship opportunities available in President Biden's Plan.
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