As one examines worldwide economic growth over the past decade, it is clear that the U.S. economy has surpassed that of most of the industrialized world, both in its rate of growth and its ability to create wealth. Entrepreneurship is critical to this growth: Entrepreneurs recognize the potential of new ideas, design applications, develop new products, and successfully bring products to market. They build companies and create jobs, generating new opportunities for wealth creation.
An often overlooked opportunity for entrepreneurship is the market segment known as emerging domestic markets (EDMs). These low- to moderate-income communities, ethnic- and women-owned firms, and underinvested urban areas represent a rapidly growing component of the U.S. population. Smart investors seeking untapped opportunities are homing in on such markets. Visionary policymakers recognize that given current demographic trends, America's economic health depends increasingly on the vitality of EDM businesses. At the same time, it is clear that fostering entrepreneurship in emerging domestic markets is challenging on many levels.
"Entrepreneurship in Emerging Domestic Markets: Barriers and Innovation" explores key issues surrounding EDM entrepreneurship. Leading researchers and practitioners from the fields of finance, entrepreneurship, economics, and government delve into data to identify the significant stumbling blocks and pose workable solutions. With this volume, the editors aim to provide scholars, investors, policymakers, advocates, and the business community a tool to help leverage the significant entrepreneurial resources in emerging domestic markets.
The book is the seventh in the Milken Institute Series on Financial Innovation and Economic Growth, organized by Glenn Yago and James Barth. It is available at Springer online.