A growing degree of uncertainty in the world economy accompanied by chronic unemployment in many parts of the world has focused considerable attention on the specific role of start-ups. It is believed that entrepreneurship may be the most valuable tool for reducing unemployment. Start-ups in the United States create 39.75% of new jobs annually, however, 40% of these firms shut down within the first three years, leading to job destruction and a high cost to the workers. In an effort to cultivate entrepreneurial activity, support programs and "business incubators" have emerged globally mostly focused on providing skills and management training, or removing infrastructural and regulatory hurdles.
Most of these programs forget that entrepreneurship is primarily about the entrepreneurial ability of the individual at the helm of the firm. This study explores the role of the entrepreneur in explaining economic growth and job creation.