Sun-Sentinel: Business creation waning in U.S., and growing in Asia

Sun-SentinelBusiness creation waning in U.S., and growing in Asia

A new entrepreneurship study from Florida International University shows a sharp decline in U.S. business creation. But the study's author says the real concern is increasing entrepreneurship in Asia.After a substantial rise in entrepreneurial activity from 1993 to 2000, there has been a decline through 2004, the Institute's study says. A significant drop occurred from 2003 to 2004: 4 million fewer Americans -- a more than 20 percent decrease in the number starting businesses. The study, part of an annual assessment of U.S. entrepreneurship, cites a decline particularly in 18- to 24-year-old men and women who have started businesses, and mid-career men, 35 to 54 years of age. While the United States remains dominant in entrepreneurship, China and India now have 100 million people who are engaged in entrepreneurial activity. It is also expected that the new US bankruptcy law introduced by the Bush Administration, which places greater limitations on individuals trying to wipe out their debts, is likely to have a further effect on new business starts.