Scott Shane writes that entrepreneurs don’t employ as many as they hope

Entrepreneurs’ job creation: expectations versus reality

Small Business Trends: Though 17 percent of Americans founding a company expect to have 20 or more employees within the next five years, only 2 percent actually reach that number, explained Scott Shane, the A. Malachi Mixon III Professor of Entrepreneurial Studies. “Policy makers should respond to this over-optimism the way investors do—by discounting entrepreneurs’ projections,” he wrote.

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