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Little engine that could

Fear not, Baltimore: Despite Wall Street woes, small businesses will keep our economy growing

September 30, 2008|By Jim Kucher

It's not just about new jobs, either, but about the effective utilization of capital - not investing in those crazy markets, not hiding it under the mattress. They're investing in the only thing we can really count on: individual abilities. They secure the dollars to grow their businesses, and they just go out and do it. When they hang up that "Grand Opening" banner, for a bakery or a grocery delivery service or a dentist's office, they are truly investing. And even if capital markets dry up, they find a way, through barter, partnerships and boot-strapping.

So, to all those who are fretting about bankruptcies and bailout proposals: Get a clue. American entrepreneurship represents a step beyond the frazzled, fickle corporate outlook of the Lehmans of the world. It represents freedom. It means that we are our own boss; we manage our own affairs. While some race to pull capital from traditional markets, we're cheering on the angels and entrepreneurs who are funding the next generation of business growth and job creation.

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As Mike Morris from Syracuse University likes to say, "Entrepreneurship is the most empowering, the most democratic, the most freedom-creating phenomenon in the history of the human race."

The sky is not falling in our fair city; in fact, there's an updraft. Let's fly with it.

Jim Kucher is executive director of the entrepreneurship program in the University of Baltimore's Merrick School of Business. His e-mail is

jkucher@ubalt.edu.

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