Many connections exist between faith and entrepreneurship. Here are a few.
Churches contribute substantially to the economy and provide entrepreneurs with social capital.
• Research shows that communities with a large concentration of religious congregations have a correspondingly higher level of small business activity.
• Churches and congregations provide social capital—formal and informal networking opportunities—and can be a source of customers, investors, employees, and encouragement and ideas for would-be entrepreneurs and existing small business owners.
• Entrepreneurs are more religious than non-entrepreneurs. They pray more—several times a week, on average.
• Entrepreneurs are more apt to worship with a congregation that encourages business activity.
• Religion-related businesses and institutions, as well as houses of worship, substantially contribute to the U.S. economy—around $1.2 trillion annually.
• Some 14 percent of community development corporations are faith-based.
• Faith-based organizations nationally do significant social investing, and there are more than 200 primarily religious- and faith-based credit unions in the United States.
• Several workforce development organizations have their origins in faith-based network organizations, providing a variety of employment-related services to help people prepare for work, improve basic skills, and find jobs.