Foreign governments and domestic corporate giants have envied their spirit and the jobs and profit they produced. Underlying economic trends have brought entrepreneurship to the foreground. The computer gave birth not only to a new industry, with hundreds of start-ups, but also revolutionized older industries, such as telecommunications. A strong resurgence of these entrepreneurial undertakings has occurred recently with over 600,000 new start-ups each year. These days, a company does not have to be large to be a rousing success.
Size is no longer the trump card it once was in today's brutally competitive world.
Changes in the rules in the game of business are putting a premium on the entrepreneurial qualities of small companies. Today's successful enterprises are nimble, innovative, close to the customer, emphasizing quality, and quickness to the market. Inc magazine believes that their entrepreneurs of the year are not necessarily working out of their garage bearing starry-eyed visions and second mortgages, but are armed with elaborate strategic plans and strong financial support. They are a respected new breed occupying center stage in the U.S. economy. In 1993, small businesses generated an additional 1.7 million jobs, while companies with 25,000 or more shed 300,000 people.