The word “entrepreneur” has its origins in the French language. It is derived from the word entreprendre, which means “to undertake.” Entrepreneurs are, indeed, people who undertake. They are the intrepid minds that generate new business ideas and undertake the task of implementing them.
Being a successful entrepreneur takes creativity, business acumen, and perhaps most importantly, vision. The risks of starting a new venture may be daunting, but if successful, the rewards can be limitless.
Richard Branson, Bill Gates, Henry Ford and Estee Lauder are all glowing examples of what entrepreneurs can accomplish with the correct mix of vision, resolve and funding. The benefits far exceed just personal gain. Their contributions have led to economic growth by way of technological innovations, new product development and job creation.
It is the recognition of this impact and the desire to encourage future economic growth which has lead the Chenango County Board of Supervisors, at the behest of Brower Communications and Commerce Chenango, to declare Sept. 22-27 as Entrepreneurship Week.
“The critical role entrepreneurs have played in advancing the national economy make it vital to encourage young people from all academic backgrounds and all walks of life to explore their entrepreneurial potential,” read the Board of Supervisors’ proclamation issued in August.
Although admittedly not on the same scale as Branson and Gates, we have wonderful examples of entrepreneurism right here in Chenango County. Raymond Corporation, Golden Artist Colors, The Silo Restaurant, Hayes Office Supply and Blueox are just a handful of the successful businesses started in the area by visionary locals.
Business consultant Bruce Erath is employed by yet another company started by an entrepreneur: The Voss Group. Established in 1976 by Elwyn G. Voss, the firm provides financial planning and advising services.
“Entrepreneurs are the backbone of the upstate New York economy,” said Erath. “We need to encourage our young people to think of entrepreneurship as an option.”
According to Erath, there are two sides to our economy. One is the “time and effort” economy, the other is the “results” economy. Around 90 percent of people fall on the time and effort side, where they work for a pay check. The remaining 10 percent have chosen to work where you get paid for the results of their efforts, by owning or starting a business.
“This results in an economy that produces jobs,” explained Erath. “I fear young people are not aware that this is a choice.”
Erath admits that being an entrepreneur is not for everyone. According to the business consultant, it takes a certain type of individual to assume the risks involved.
He encourages those interested in exploring the idea of starting their own business to attend the 2008 Entrepreneur Forum, where he will moderate a panel discussion of local business people. Those who do, Erath said, will walk away with suggestions as well a feel for “whether or not they want to take the plunge” of small business ownership.
The 2008 Entrepreneur Forum, organized by Brower Communications and Commerce Chenango, will take place from 9 a.m. to 3 p.m. on Saturday, Sept. 27 at the SUNY Morrisville Norwich Campus. A full day of sessions and seminars for current and prospective small business owners is planned.
The event is being co-sponsored by NBT Bank, The Voss Group, The Evening Sun, Norwich-Sidney Pennysavers, the DCMO BOCES Adult Education Program and the Small Business Development Center at Binghamton University.
For more information on the event, contact Brower Communications at 334-7526 or visit www.chenangoforum.com.