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If you are reading this, chances are you have seen any number of surveys and indices that rank the U.S. states according to their climate towards small business and entrepreneurs. Unlike other rankings, a new survey from Thumbtack.com has gone straight to the source. Partnering with the Kauffman Foundation, Thumbtack.com conducted a two-month survey of over 6,000 small business owners nationwide on the friendliness of states towards small business and about small business finances in order to measure states and cities along 21 metrics.
While members of the House are back in their home districts for a two-week recess, the Senate has several committee hearings and events that may be of interest to entrepreneurs and followers of the startup ecosystem. The economic dialogue between U.S. and China gets a look from the Senate Committee on Banking, Housing & Urban Affairs while others focus on less government IT spending, the government’s role in energy innovation and innovations in health care delivery.
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:
An increasing number of developing economies are turning to new firm formation in their efforts to reduce poverty and generate sustainable wealth. A new partnership between Startup Weekend and global humanitarian agency Mercy Corps will add to those efforts, expanding the access and impact of a proven model for business generation.
A growing number of customers have apparently found a way around tighter economic times—pay late or just sometimes not at all. The latest Kauffman Firm Survey shows an alarming increase of young firms who claim their primary business challenge is customers paying late or simply not making payments—jumping from 2 percent in 2008 to 14 percent in 2010. That may not be as big of a problem for larger established firms, but for startups it can mean the difference between failure and survival.
A fairly slow week on Capitol Hill is punctuated by a Joint Economic Committee hearing on "How the Taxation of Labor and Transfer Payments Affect Growth and Employment." Witnesses for the hearing are: Simon Johnson, entrepreneurship professor from MIT; Richard Rogerson, economics professor from Princeton; and Andrew Biggs, resident scholar at AEI (and former principle deputy commissioner of the Social Security Administration).
As the venture capital industry continues to consolidate, a new report from the Kauffman
Foundation examines the cause for its poor long-term returns. But unlike some recent shots, the report's authors don't point the finger of blame directly at VCs. Instead, they issue a challenge to state pension funds, endowments, foundations and other institutional investors in those funds to require deeper due diligence and more rigorous data analysis before investing.
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