The New Entrepreneurs

TRENDS The New Entrepreneurs (NAPS)—While many people know that entrepreneurs are helping states drive their economies, you might be surprised to learn that the faces of new business have been changing. A recent study found earlystage entrepreneurs are more likely to be nonwhite, of immigrant status and from a lower level of household income than established business owners. The study, called the Babson Entrepreneurship Monitor, was conducted by Babson College in Massachusetts, a school specializing in entrepreneurship educaNew businesses tend to be started by individuals who are already working fulltime. €@ tion. It’s thought that its findings can help states across the country employ some of the samestrategies that have helped make Massachusetts the “top state in the nation for entrepreneurial activ- ity.” Study findings include: The rate of early- and late- stage entrepreneurial activity in Massachusetts is much higher than in the rest of the U.S.—23 percent compared to 14 percent. New businesses tend to be started by individuals who are already working full time. Half of the businesses reported equal focus on profit and social goals. Early-stage businesses tend to be relatively innovative in terms of the products and services they bring to market and the technologies they use within the business. For more information, visit www.babson.edu/bem.