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Last week, I participated in the NASVF Annual Conference in Oklahoma City where experts discussed again how to ensure that credit crunches do not negatively impact start-up performance. The good news is that those gathering at this conference started from a common appreciation that entrepreneurship cannot be on the sidelines of economic and financial policy.
If you have ever been around somebody trying to start or grow a business, you know that entrepreneurs don’t have time for much else, especially not for going to Washington to help keep policymakers up to date on how to encourage high growth entrepreneurship in America—not hurt it.
If you have ever been around somebody trying to start or grow abusiness, you know that entrepreneurs don’t have time for much else,especially not for going to Washington to help keep policymakers up todate on how to encourage high growth entrepreneurship in America—nothurt it. When...
The Doing Business 2010 report highlighted how the financial crisis has prompted governments to act in areas where regulatory reform may be more difficult and require more time. The report states that in times of recession, “the more quickly the assets of nonviable firms can be freed up, the easier it is to remobilize those assets.” While the U.S. remained ranked 4th in the 2010 ease of doing business list compared to its 2009 rank, other countries have implemented several reforms that improved their ranking. How has the EU fared?
Ahead of the Senate Finance Committee’s long-awaited vote on its health care bill, I thought it would be helpful to once more comment on its effect on our entrepreneurs. The status quo in healthcare undermines entrepreneurship: small businesses are paying a higher cost to offer health insurance to their employees because of the smaller size of their workforce and the lack of competition in the small group market. Some entrepreneurs are dropping this benefit entirely not because they don’t want to provide insurance to their employees, but because the survival of their startups requires it. According to one estimate, 52 percent of workers in businesses with less than 50 employees were uninsured or underinsured during 2007. Even worse, many potential entrepreneurs and the talent they need to launch their ventures feel trapped in jobs that offer affordable health coverage for themselves and their families.
I have always liked the story of the CEO who sends two shoe salesmen to Africa. When they report back, one says “Bad news, they don’t wear shoes here”. The other reports excitedly “Wonderful news boss, they have no shoes”.
Not too long ago, entrepreneurship education was part of the curriculum of few university programs across the country. In 2003, the Kauffman Campuses initiative started to help seed cross-campus entrepreneurship programs at dozens of American universities, thereby allowing more young people to explore their entrepreneurial potential. Other universities have since moved in the same direction, bringing entrepreneurship education into the mainstream of learning by offering entrepreneurship courses and sponsoring extra-curricular activities, such as business plan competitions. Other institutions, like MIT, have gone even further by helping student scientists commercialize innovations.
If you often find yourself quietly thinking “I know a better way to do this” or “I could create something new that would make this easier for everyone,” you are a potential entrepreneur. Don’t waste that potential. The economy needs you more than ever.
The record number of pro-entrepreneurship legal and regulatory reforms in the past year among the economies studied by the World Bank’s Doing Business project is welcome news during a time of global economic recession. Prioritizing reforms and learning from global best practices hold enormous potential to unleash entrepreneurship. To maximize this potential, leaders must also promote a culture that embraces entrepreneurship.
Welcome to Global Entrepreneurship Week. Throughout this week, I will be reporting in from entrepreneurship policy events around the world. Global Entrepreneurship Week is engaging more than four million participants in 887 countries exploring new venture creation as a career path through mentoring activities, business plan competitions, networking events and other fun activities. It offers an extraordinary demonstration to policymakers that there is a new wave of entrepreneurialism before us and if we want to build economies and make jobs, they must quickly create the most favorable environment possible.
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