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Highlighting this week’s slate of hearings on Capitol Hill is a review by the House Finance Committee on “Legislative Proposals to Facilitate Small Business Capital Formation & Job Creation.” Getting a peak are: the Small Company Job Growth & Regulatory Relief Act of 2011; the Private Company Flexibility and Growth Act; the Entrepreneur Access to Capital Act; and, the Access to Capital for Job Creators Act.
The Entrepreneur Walk of Fame unveiled its inaugural class of seven esteemed honorees whose names will be immortalized with a sidewalk star in Kendall Square—located in Cambridge, Massachusetts—today. Similar to Hollywood's celebration of movie stars, the Entrepreneur Walk of Fame (EntWoF) awards entrepreneurs at the top of their fields who have transformed the business culture and jumpstarted the economy.
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:
House and Senate appropriations committees have approved substantial fiscal year 2012 budget decreases for the U.S. Census Bureau, the agency responsible for producing data to guide the government economic and fiscal policy and business investments across a $14 trillion economy. Sadly, the committees fail to recognize that their cuts, by leading to less effective public and private sector decisions, are likely to cost the nation dearly in terms of economic activity and jobs, while saving the public well less than a dollar a person.
We have heard several entrepreneurship-based proposals recently to get our economy back on track, but one piece seemed to be missing this whole time in the debate: re-evaluating Sarbanes-Oxley for young firms. We have long known that the compliance costs associated with SOX—particularly section 404—have been discouraging many companies from going public, thereby blocking their access to capital and growth. Researchers have suggested that Congress address this issue in some way, and a measure to allow shareholders of companies with market cap below $1 billion to opt-in under SOX was one of the ideas floated in the Startup Act released mid-July. The measure is now gaining track in Congress.
A new essay by Steve Blank, who founded a series of successful high technology companies and now teaches entrepreneurship, outlines four different types of entrepreneurs—and identifies the tools and support they need to succeed.
Over time I have become increasingly confused as to the meaning of “youth entrepreneurship.” While the myth of entrepreneurs as “modern day Mozarts” in garages (to borrow Carl Schramm’s phrase) is slowly being dispelled, it seems our human instinct to avoid conversations about age is alive and well! The reason this matters now is because governments and non-governmental organizations around the globe appear to be ramping up investment in “youth enterprise.”
President Obama threw down the gauntlet to Congress today, releasing his plan for the American Jobs Act, a $447 billion legislative proposal to jumpstart the economy that creates a number incentives for employers to start—and keep—hiring. The plan includes a payroll tax holiday for small business that hire new employees as well as for those who raise salaries. Other incentives include cutting payroll taxes on the first $5 million in payroll and extending “100% expensing” that allows firms to take an immediate deduction on investments in new plants and equipment.
The Kauffman Foundation is seeking experts on high-growth entrepreneurship policy issues to contribute to the creation of a global policy roadmap for advancing entrepreneurship. Scholars are invited to submit abstracts for papers to be considered for presentation at a roundtable discussion at the Kauffman-sponsored Global Entrepreneurship Congress, March 11-12, 2012, in Liverpool, UK.
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