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Thriving entrepreneurial hot spots do not just pop up overnight. It takes more than a few growing startups to turn a city intro a hub of entrepreneurial activity. This thought is confirmed by a new Kauffman Foundation white paper entitled “Path-Dependent Startup Hubs – Comparing Metropolitan Performance: High-Tech and ICT Startup Density”.
I recently returned from participating in the 2nd Annual Rome Forum of the Harambe Entrepreneurial Alliance, hosted by the Vatican's Pontifical Council for Justice and Peace.
Tuning in for the state of the union (SOTU) address is somewhat of an annual ritual for me. For the past two decades, spanning several presidencies from both parties, I torture myself straining to hear that one word, however challenging it is to say (and spell)--entrepreneur. So I was encouraged when President Obama dropped the "E" bomb early in his 2014 SOTU address, made even more special by the fact that he referenced a woman entrepreneur. And I wasn't alone in my enthusiasm as the twittersphere erupted likewise.
A few weeks ago I wrote a blog post about President Obama's State of the Union Speech. I observed that entrepreneurial vision was lacking and I wish he had used the occasion to revive bipartisan support for an entrepreneurial agenda that could have given both parties things to support.
In perusing last week's headlines (and a few stragglers from the week prior), I realized I was drawn to numerous articles pertaining to entrepreneurial support beyond that in the United States. For those who don't know, my work at Kauffman allows me to travel a bit--about 100,000 miles a year to be exact.
I was disappointed to have been unable to make the 2014 Global Entrepreneurship Congress last week in Moscow. It's a historic event, in its fifth year, that gathers startup champions from around the world--entrepreneurs, investors, researchers, thought leaders and policymakers--to work together to help bring ideas to life, drive economic growth and expand human welfare. This kind of annual assembly has contributed to the expansion of a global entrepreneurial ecosystem by connecting experts and entrepreneurs across borders and sectors to unleash their ideas and transform innovation into reality.
Having had my home city represent the bottom of its fair share of "Worst" lists (Hey there, Cleveland!), I meet the ever-popular lists and rankings with a healthy dose of skepticism. All certainly are not created equal and all do not have the best of intentions.
Doing business ethically in third world countries involves providing instruction about U.S. business standards in cultures whose business fundamentals are vastly different, writes the author. Another imperative concerns the wisdom of respecting cultural differences without crossing the line to engage in practices considered inappropriate or immoral in the West.
In the past, reverse mergers were associated with penny stocks, manipulation, and potential for abuse. Today they are viewed as a legitimate vehicle for going public. The author explains the steps involved in doing a reverse merger and offers tips for expediting filing and approval of documents with the SEC.
A growing economy constantly creates new job opportunities in new sectors, but also displaces and even destroys existing jobs. The workforce in an entrepreneurial economy must always evolve as well. Government efforts to protect jobs are often misguided, hindering growth and new job creation. Pro-growth workforce rules should instead focus on developing worker skills, allowing maximum hiring and layoff flexibility, and focus adjustment efforts on getting displaced workers into new jobs as soon as possible. Small firms employ half of all private sector employees and create 60-80 percent of net new jobs in the U.S., according to the SBA. Labor rules are one of the largest barriers to entrepreneurial ventures. The World Bank’s cross-country comparison of labor regulations shows lower job creation where workplace rules are more rigid. Labor rules must move beyond the early 20th century framework of management versus labor and encourage new firm formation as well as a dynamic, not static, worker.
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