Crain’s New York Business: “New York exports its entrepreneurial expertise”

Although the new semester had barely begun this year at Pace University’s Lubin School of Business, Director of Entrepreneurship Bruce Bachenheimer already had teaching requests from groups and institutions in India, China, Norway and Israel.

Universities find that business professors’ knowledge is invaluable to international colleagues seeking routes to economic development, according to the lead Small Business article in the Sept 26-Oct 2, 2011 issue of Crain’s New York Business.

Although the new semester had barely begun this year at Pace University’s Lubin School of Business, Director of Entrepreneurship Bruce Bachenheimer already had teaching requests from groups and institutions in India, China, Norway and Israel.

Mr. Bachenheimer returned from India in early September, spoke to a Chinese delegation at Pace immediately afterward and then taught a course on writing a business plan for students visiting from the BI Norwegian Business School. He will travel to Israel in early January.

Colleges and universities abroad, especially those located in developing nations, are increasingly trying to establish the kinds of entrepreneurship programs that exist here in the U.S.

Generations of immigrants may have fueled American entrepreneurialism, but, according to Mr. Bachenheimer, entrepreneurship education on the college level is primarily an American export. And local professors are seeing the demand for their expertise grow beyond the occasional request to teach overseas while they’re on a school break or a sabbatical. Foreign universities are more and more willing to pay a premium for the know-how of professors from entrepreneurship centers such as Silicon Valley, New York City and Cambridge, Mass., the Lubin professor says.

Reflecting the growing international interest in entrepreneurship education, the Bloomington, Ind.-based Global Consortium of Entrepreneurship Centers, whose members are university-based, switched to its current name three years ago, notes Mr. Bachenheimer. Founded in 1996 as a national consortium, the organization made the change in response to interest from international institutions.

Although students obviously can’t absorb everything about running a business while in a classroom setting, the fastest way to get started and learn to manage risk is often with the guidance and assistance available through universities and colleges. (Other kinds of structured support can be invaluable as well: Research from the National Business Incubation Association and the U.S. Small Business Administration show that businesses coming out of incubators have a much lower failure rate than that for startups overall, says Mr. Bachenheimer.)

Crain’s New York Business: “Number of startups led by women rising”

Entrepreneurship among women in New York is on an upswing. Lubin Professor Bruce Bachenheimer, director of entrepreneurship, comments.

According to recent statistics from American Express Open, the number of women-owned startups in the state rose 58% between 1997 and 2010, versus 50% nationally.  New York ranks among the Top 10 states for women entrepreneurs.

The trend holds in the five boroughs, which could very well account for the lion’s share of the state’s female entrepreneurial activity, according to observers.

“The increased startup activity in New York state most likely is because of an increase in women-owned startups in New York City,” said Bruce Bachenheimer, director of entrepreneurship and clinical professor of management at Pace University.

Crain’s New York Business: “Tips for tricky task of raising prices”

Many entrepreneurs are concerned about keeping their businesses profitable as inflation threatens to increase overhead expenses.

More small businesses are thinking of changing price structure as inflation threatens.

Bruce Bachenheimer, clinical professor of management and director of the entrepreneurship program at Pace University, advocates that small business owners should first “Do a small-scale test” to determine if and how their company should raise prices.

“A pilot hike will help you gauge customer reactions and mitigate risks, ” said Professor Bachenheimer in an article in Crain’s New York Business. For example, if you have two stores, raise prices on select items or at just one location.