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When asked about the state of the national economy, a majority of startup business owners do not see it growing in the next 12 months—22 percent expect it to remain pretty much the same while another 34 percent expect it to worsen. The numbers on consumer demand are similar. Not surprisingly, 63 percent said that they had no plans to hire additional employees.
Tomorrow, roughly 100 million Americans will cast their vote for one of two men who have stressed the importance of entrepreneurs and of course, small business to the country—and claimed to be the best candidate to empower them. Meanwhile, one week from today, policymakers, researchers and millions of nascent entrepreneurs in 130 countries will be taking matters into their own hands through a collection of 40,000 events, activities and competitions during Global Entrepreneurship Week.
U.S. small business owners don’t necessarily think that high taxes are the biggest barrier to their success—but the complexity of the tax code is a different story. The plea for simplification continued into the area of regulations and licensing requirements.
The last several weeks of campaigning are finally (and thankfully for most of us) coming to a close with tomorrow’s election. Various polls have the presidential race as too close to call—not surprisingly, both campaigns are predicting victory. You can create and share your own predictions or just follow along tomorrow on CNN’s electoral map. If you are an avid election night junkie like all of us in Washington and want to track the battle to control Congress, we suggest Real Clear Politics maps for the U.S. House of Representatives and U.S. Senate.
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.
A new survey funded by the Kauffman Foundation suggests that most economies are recovering from the sharp drops in new firm registration triggered by the 2008 global financial crisis. The improvement may very well likely been bolstered by government reforms, according to the analysis of new World Bank data.
Two new studies hit recently that take a look at the best cities around the world for startups and business opportunities. Fortune magazine went on a search for “cities that share the San Francisco Bay Area’s potent combination of creativity and capitalism” and came up with seven up-and-comers to keep an eye on. Meanwhile, Business Insider looked for “a city’s comprehensive potential for business across ten economic indicators” that range from intellectual capital to natural environment and identified 27 heavyweights (predominantly in the world’s largest cities).
Congress is in recess with members back in their home states and districts as they focus on campaign work over the next several weeks. They will return to Washington at some point after the November 6 election.
One of the major supporters of DEMO Africa and LIONS@frica with me in Nairobi last week was Nokia. As I took a look at just how much innovation Nokia has created, I was curious to look further into the current startup culture in its home country of Finland and see just how important high-growth entrepreneurship is to its economy.
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