National Entrepreneur’s Day is an annual event occurring on the third Tuesday of November (November 15) that honors people who have built an empire from absolutely nothing. Radical inventions by brilliant minds have shaped the way we live today, not to mention our future.
History Of National Entrepreneur's Day
The word entrepreneur comes from the French word entrepreneur, meaning “undertake.” It first appeared in the French dictionary “Dictionnaire Universel de Commerce,” produced by Jacques des Bruslons and published in 1723. The study of entrepreneurship stems from Irish-French economist Richard Cantillon in the late 17th and early 18th century. In his book “Essay on the Nature of Trade in General,” he defined an entrepreneur as someone who pays a certain price for a product and resells it at an uncertain price.
Cantillon emphasized the willingness of the entrepreneur to take on the risk and deal with the uncertainty — thus distinguishing the difference between the entrepreneur and the investor. Another French economist, Jean-Baptiste Say, identified entrepreneurs as drivers for economic development, emphasizing their role as one of the collecting factors of production. Say, and Cantillon both belonged to the French school of thought and are known as the physiocrats.
In the 1930s, economist Joseph Schumpeter defined an entrepreneur as someone willing and able to convert a new idea or invention into a successful innovation. For him, entrepreneurship resulted in new industries and combinations of existing inputs. His example was the combination of the steam engine and the wagon to produce the horseless carriage.
In 2010 entrepreneur Siamak Taghaddos started a petition to create a National Entrepreneur’s Day. He didn’t understand how America, though considered the most entrepreneurial country in the world, didn’t already have a day dedicated to recognizing entrepreneurs. Six months and thousands of signatures later, President Obama proclaimed the last day of 2010’s National Entrepreneur Week as National Entrepreneur’s Day.
National Entrepreneur's Day Timeline
French economist coins the term
Jean-Baptiste Says: “The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.”
Steve Jobs, Steve Wozniak, and Ronald Wayne began the Apple Computer Company on April Fool’s Day — one day before releasing their first computer.
Shark Tank debuts
The hit ABC reality show features aspiring entrepreneurs who present their business ideas to top investors (sharks) and seek funding.
November declared National Entrepreneurship Month
President Barack Obama declares November as National Entrepreneurship Month.
National Entrepreneur's Day Faqs
What can I sell for Entrepreneur’s Day?
Selling your goods is a great way to get involved in National Entrepreneur’s Day! Maybe you make hand-carved jewelry, or you own your food truck. Or maybe you need to get rid of some stuff around the house that still has a use. Either way, selling your wares is the process of running a business!
Who are famous entrepreneurs?
Famous entrepreneurs include Steve Jobs, Walt Disney, Oprah Winfrey, Alexis Ohanian, Sean Carter, and Bill Gates.
What does entrepreneurship mean?
Entrepreneurship is the process of designing, launching, and running a new business, while an entrepreneur is a specific person operating the business.
National Entrepreneur's Day Activities
- Check out an event highlighting local business owners.
- Attending local markets, pop-up shops, or industry events are a great way to get in touch with what’s developing in your city. Not to mention, it’s a fun way to network.
- Bring your idea to life.
- Thinking of a possible business idea? Start researching competing companies or similar businesses in your city and test the possibility of success!
- Give a shout-out on social media.
- Whether you know an entrepreneur and want to celebrate their accomplishments or admire an industry leader for their work, help spread the word about National Entrepreneur’s Day and why it’s a day we all can celebrate.
Why We Love National Entrepreneur's Day
- It creates jobs
- The more, the merrier when it comes to employment, and as more small businesses form, more jobs become available.
- It heals the economy.
- Entrepreneurs create millions of jobs and pay taxes on sold goods, employees, and imported goods. Tax revenues help everyone (theoretically).
- It encourages creative problem-solving.
- Entrepreneurship sparks creative innovations to improve the quality of an existing service or product or invent something entirely new. Either way — the result serves the greater good of consumers and the marketplace.