Michael Allen Founder of Bouncepreneurs the movement that helps entrepreneurs recover from business failure speaks about the role of public sector economic development agencies in 2nd phase entrepreneurship.
I am calling on economic development agencies to add a new element to their economic development work. Bounce Backs or Second Phase Entrepreneurship.
In the 1990's and early noughties I worked with many government economic development agencies and investment promotion agencies in around 20 countries. That experience gave me a strong insight into the way in which these agencies operate.
I know that within this sector there are innovators that are prepared to make changes to the norm and breakaway from convention. Now is the time to do just that.
Bouncepreneurs have a 5 point plan for economic development agencies
1. Acknowledge that most entrepreneurial ventures fail!
Current Practice - ignore the problem and claim artificially high success rates because it is politically...