HISTORY OF OUR GREAT COMPANY

Since launching our first business creation and development seminar with three students in a Lorton, Virginia library room in 1997, our singular goal has been to unleash the power of personal industry - to help people create and develop independently owned businesses and to advance the highest personal and technical effectiveness in achieving this goal.

 

Economist Dr. Joseph A. Schumpeter inspired the creation of our companion companies - Schumpeter Consulting and the Schumpeter Enterprise Institute in September 1997 - first as a training, advising and counseling program for new entrepreneurs, then as a resource for accounting, tax work and other management tools.

 

Dr. Schumpeter provided a legacy of research and teaching about the nexus between economic progress and entrepreneurial activity.  He observed that the ultimate cause of social development emanates from sporadic changes brought about by creative individuals who innovate by devising new combinations, manifest through new products, new methods of production, new markets, new sources of supply, or new industrial arrangements.  In short, the entrepreneur is the primary agent in transforming a stationary economy into a dynamic one.

John Michael Donohue (right) with Lord Peter Bauer, author of Dissent on Development, who stated: "Development requires modernisation of the mind...a revision in personal attitudes."  Bauer was highly influential in the establishment of the Schumpeter Enterprise Institute curriculum.  Photo courtesy of the Cato Institute, Washington, D.C.   Schumpeter Consulting, along with the economics profession at-large, remember Dr. Peter Tamas Bauer (1915-2002) with gratitude.