Tuesday, September 7, 2010

Detroit, Mi: Entrepreneurship - Low Barriers to Entry

(the above image is of salvaged sinks turned into a fountain on the patio of a small restaurant in the quickly growing mid-town area, where many young people are starting businesses)

· We had a really inspiring panel on entrepreneurship in Detroit and came away with a sense of why young people were attracted to this City – there is so much opportunity to easily start a business or test an idea within the limits of a huge City but with few barriers to entry. A store or restaurant can be started with little start-up capital, a new business idea can have an office for almost nothing and immense institutional support, and social ideas can find armies of volunteers yet all the while the cost of rent, living and services are low, employees are plentiful, and opportunities for impact are immense.

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