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When it comes to supporting entrepreneurs and small business owners in the U.S., local government and ecosystem players get the nod over those at the state or national level. And while they are largely an optimistic bunch about their prospects for growth in the coming year, they worry about sustaining their success.
If you are looking for a job, you may want to consider looking in North Dakota. According to a new survey by the U.S. Chamber of Commerce, the job growth rate in North Dakota is far beyond that of any other state. As policymakers across the country work to foster strong entrepreneurial ecosystems, Enterprising States: Getting Down to Small Business takes an in-depth look at the priorities, policies and programs of the 50 states that are vital for job growth and economic prosperity.
Each day, Innovation Daily checks the pulse of global innovation--courtesy of Innovation America. Here, we take a look at a handful of relevant stories it compiled last week.
When Congressional committee hearings look into “offshore profit shifting” of “multinational corporations”, we don’t usually mention it in this weekly post. But when the multinational corporation in question is Apple and its CEO and CFO are scheduled to testify, we will make an exception given its impact on the mobile startup space alone. Tim Cook appears before the U.S. Senate Permanent Subcommittee on Investigation on Tuesday to answer questions about its tax operations—and multiple sources are reporting he will likely use it to call for a major simplification of the tax code. But the Silicon Valley giant won’t be the only big name on the Hill this week.
In this era of sophisticated public policy around enabling high-growth entrepreneurship, governments should be mindful to not forget the basics. A survey conducted last November in Honduras found that gang violence was forcing the closure of 1600 companies across the country. This is a good reminder that supporting startups to scale up in this part of the world must include deep institutional reforms to strengthen the rule of law and the judicial system.
Is the U.S. losing the global race for the best and brightest entrepreneurial talent? It depends who you ask, but the question is the main focal point of the latest program from America Abroad Media entitled ‘Immigration and the Global Talent Search’—part of a four-part series on American entrepreneurship in a global economy.
While all eyes in the Senate are on the ongoing immigration debate, the House has a handful of committee hearings of interest. The “changing landscape of patent law” brought on by the American Invents Act and its “effects on small firms” are the focus of a Small Business Committee hearing. Topics covered in other hearings include: small business and pass-through entity tax reform; data centers and the cloud; copyright principles; and Keystone XL and small business job growth.
Each year, 552,000 employer firms open in the U.S. and a fairly stable percentage grow rapidly to become companies that ‘matter.’ According to a new paper from Kauffman Foundation senior fellow Paul Kedrosky, anywhere from 125 to 250 U.S. companies per year reach $100 million in revenues—the first of three criteria that he uses to determine if they matter. In addition to being scalable, the firms must be able to generate jobs quickly and broadly and they must be disproportionate creators of wealth (through profits and salaries as well as through equity). So where do most of these firms emerge?
‘Entrepreneur visas’ aren’t only being discussed in Washington, DC. Recently, French President Francois Hollande announced a series of measures aimed at jump-starting entrepreneurial growth that included capital gains tax reforms, support services for SMEs and entrepreneur visas for those looking to launch and grow startups in the country.
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