Measuring An Entrepreneurial Ecosystem. Business & Marketing Essay

Measuring an Entrepreneurial Ecosystem
Date
Student’s Name
Measuring an Entrepreneurial Ecosystem
Nashville City
Nashville City is one of the fastest growing cities in the United States, hence the reason why I have selected it as a candidate for the measurement of entrepreneurial ecosystems. The four indicators for Nashville City are fluidity, diversity, Density, and Connectivity.
a) Nashville Fluidity.
Stangler and Bell-Masterson (2015) identify population flux, labor market relocation, and a number of high-growth firms as economic indicators for entrepreneurial vibrancy. According to the United States Bureau of Labor Statistics (2018), the population of Nashville City has been growing at a higher rate in the recent years. Between 2010 and 2017, the population change was 10.6%. In 2010, the percentage of the number of people in the labor force was 65.7 %, and it has grown to 70.1% in 2017. In 2012, the total number of firms in 2012 was 68, 228, and have currently grown to 142, 317.
a) Nashville Diversity.
Diversity for entrepreneurial vibrancy includes economic diversification, immigration, and income mobility (Stangler & Bell-Masterson, 2015). Nashville’s economic diversity includes real estate, mining, banking industry, education, business, and manufacturing industries. Nashville is currently home to more than two hundred thousand immigrants, according to Census Bureau of the United States.
Nashville Density
Density as a measure of economic vibrancy includes the number of young firms and share of employment in those young firms. According to the United States Bureau of Labor Statistics, Nashville has experienced tremendous growth in the recent years. In January 2018, AllianceBernstein announced that it was moving its headquarters to Nashville with more than a thousand jobs. Other companies like UBS employs 1200 people in Nashville alone and it is expecting to increase its market share.
Nashville Connectivity
In entrepreneurial vibrancy, connectivity includes the availability of the resource for entrepreneurs as well as the availability of programs that create room for entrepreneurs setting up new companies. The connectivity programs, spinoff rates, and deal-maker connections contribute to entrepreneurial vibrancy. In Nashville, the availability of resources for the thriving of businesses as well as ...