Entrepreneurship plays a vital role in the U.S. economy as it embodies the spirit of American capitalism.
However, as the necessity of capitalism dictates, some of these entrepreneurs must fail in order for others to succeed.
According to the Bureau of Labor Statistics, survival rates of new start-ups have been dwindling since the recession began. The BLS reports, “The period from 1993 to 2006 was marked by an increase in the number of births and deaths [of start up companies], indicating a higher amount of business ‘churn’ — that is, new business establishments entered and old establishments exited the economy in greater numbers. Since the most recent recession began in December 2007, births have experienced the steepest decline in the history of the series.”
But even in this tough economy, UC San Diego Alumni have managed to create and sustain successful businesses. Watch “Start Me Up! Entrepreneurs at Career Boost Camp 2013” to hear from a chief creative officer, a computer and electrical engineer, and other entrepreneurs as they share their tales of successful start ups.
For more career advice and job-focused videos, check out The Career Channel.