Wright Brothers’ First Flight

Genius is 99 percent perspiration and 1 percent inspiration.

— Thomas Edison

Small businesses drive economic growth. They employ half of all U.S. workers, create two of every three new jobs, and patent new inventions 16 times faster than large firms.

But the future of small business is under threat. Americans are starting new businesses at the lowest rate in decades, even as the small business failure rate increases due to suffocating regulations.

To reverse this worrying trend, we’re working to instill an entrepreneurial mindset in today’s youth.

Reviving American small business starts with teaching the entrepreneurs of tomorrow. That’s why we’re working to expose students to entrepreneurship through education. The Network for Teaching Entrepreneurship encourages middle and high school students to establish their own businesses. The students have the opportunity to present their business plans in competitions — and winners go on to compete in the national competition in New York City.

Teaching entrepreneurship isn’t merely a way to spur economic growth and job creation. By inspiring people to turn their creative ideas and passions into business ventures, we’re helping individuals unlock their full potential and live the American dream.