National Entrepreneur's Day – November 19, 2019

Tue Nov 19

What is National Entrepreneur’s Day?

National Entrepreneur’s Day is an annual event occurring on the third Tuesday of November (November 19, 2019)  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. 

National Entrepreneur’s Day History

The word entrepreneur comes from the French word entreprendre, 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 back in the late 17th and early 18th century. He defined the term entrepreneur in his book “Essay on the Nature of Trade in General” as a person 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 currently existing inputs. His example of this was the combination of the steam engine and the wagon in order 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

2012

November declared as National Entrepreneurship Month

President Barack Obama declares November as National Entrepreneurship Month.

2009

Shark Tank debuts

The hit ABC reality show features aspiring entrepreneurs who present their business ideas to top investors (sharks) and seek funding.

1976

'Think Different'

Steve Jobs, Steve Wozniak, and Ronald Wayne begin the Apple Computer Company on April Fool's Day — one day before releasing their first computer.

1800

French economist coins the term

Jean-Baptiste Say: “The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.”

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 own food truck. Or maybe you just need to get rid of some stuff around the house that still has use. Either way, the process of 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 the specific person operating the business. 

National Entrepreneur's Day Activities

  1. 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.

  2. Bring your idea to life

    Thinking of a possible business idea? Start researching competing companies or similar businesses in your city and test out the possibility of success!

  3. 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

  1. It creates jobs

    The more the merrier when it comes to employment, and as more small businesses form, more jobs become available.

  2. It heals the economy

    Entrepreneurs create millions of jobs and pay taxes on sold goods, employees, and imported goods. Tax revenues help everyone (theoretically).

  3. 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.