Entrepreneurship in USA and Germany Term Paper

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S. That said, the country's long history of immigrant entrepreneurialism, however tenuous the notion might be today, has left a cultural legacy as evidenced by the relatively high entrepreneurship index score given to the U.S.

There are other structural factors as well. In Europe in general, there are a myriad of impediments to entrepreneurialism, including legal barriers, a consumer sector that is unventuresome about new products, stronger unions and higher levels of state intervention in the marketplace (Phelps, 2007). Phelps also outlines several cultural factors as well, such as the desire amongst workers for responsibility, interesting work or the chance to take initiative. The United States scores much higher in these metrics than does Germany. He frames these as differences in economic dynamism.

There is a correlation between the level of entrepreneurship and the level of economic growth (Aernoudt, 2007). Aernoudt's findings imply that European SMEs do not have an adequate support structure, which he feels should be more entrepreneurial in mindset.

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The existing structure, he argues, is geared more towards larger enterprises. His case study is Wallonia, but that region has a similar entrepreneurship index to Germany and many of the structural issues are pan-European.

The outlook of SMEs is a factor as well. While entrepreneurs can reasonably be expected to focus primarily on domestic markets, SMEs often have the ability to take their business global. According to the U.S. Department Commerce, from 1987-2001 the number of American SMEs participating in export markets grew 250%, and SMEs accounted for 98% of all new exporters.

This paper intends to analyze entrepreneurship and SME activity in the United States and Germany. The focus will be on the differences in the ways that entrepreneurship and SME activity is conducted in the two countries, and will attempt to outline the root causes of these differences.

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