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Unless you completely unplugged over the holidays, you know that if Democratic and Republican lawmakers could not bridge their differences on how best to reduce the nation's budget deficit and debt, the Budget Control Act of 2011 mandated a combination of spending cuts and tax increases to take effect January 1, 2013. While Washington kicked the can down the road on budget cuts, the cliff was avoided – but what does the deal mean for American entrepreneurs?
Every year, reports from the World Bank, the OECD and numerous private sector researchers tell us that nations are improving their regulatory environment in terms of reducing the complexity and cost of regulatory processes for starting a business. However, comprehensive reforms to stimulate startup creation are still relatively hard to find. Will the ever-intensifying global race to build strong startup ecosystems from the bottom-up change this?
This week we can expect President Obama to speak to immigration reform and a new immigration proposal to be unveiled in the Senate. I have discussed in this blog the importance of creating a U.S. Startup Visa for high skilled immigrants—but only in the context of America’s loss. We take a look today on what America's loss in terms of brainpower and innovation skills means for one nation—India.
Since 2005, the Eastern Europe and Central Asia region leads the world in enhancing the business climate for local firms. The region overtook East Asia and the Pacific to become the second most business-friendly, after OECD high-income economies. However, one country, the Ukraine, has been described as the “rotten apple” in the region, comparing unfavorably to its neighboring countries. After meeting the “Ambassador Extraordinary and Plenipotentiary of Ukraine to the United States,” I decided to take a closer look.
In his State of the Union Address next week, President Obama will shift gears back to job creation after his inauguration speech focused on wider themes. As the debate about how the government can help the economy regain its pre-recession strength enters a new phase, the Kauffman Foundation’s annual “State of Entrepreneurship Address” last week in Washington, DC, focused on how financial constraints have been blocking the success of new and young firms that create most of the net new jobs.
Thousands of people from 135 countries have already confirmed their participation for next month’s week-long Global Entrepreneurship Congress (GEC) and festival in Rio de Janeiro. As chair of the GEC for the past few years, I have witnessed the emergence of this global platform for collaboration among entrepreneurs, their investors and national leaders held outside the United States. So what happens at the GEC?
This week, President Obama will turn his focus from budget sequestration to immigration. A new Kauffman Foundation report released last week argues that making 75,000 Startup Visas available for current holders of H-1B and F-1 visas who start companies could create as much as 1.6 million U.S. jobs in the next 10 years. Will Washington act or, if they cannot agree, throw the baby out with the bath water?
The greater availability of data on entrepreneurship is one of the main drivers behind the rush to build better startup ecosystems around the world. By revealing weak areas in a country’s entrepreneurship ecosystem and enabling cross-country benchmarking, more data is yielding important insights for better economic and regulatory policymaking.
Last Friday, the Global Entrepreneurship Congress adjourned in Rio de Janeiro, ending a week of intense sessions that engaged over two thousand people from 130 countries in discussions around building stronger entrepreneurship ecosystems back home. While the Congress included Global Entrepreneurship Week host country delegations, investors and entrepreneurs, it opened last Monday with a new session for policymakers and researchers. The experiment was a success and ended with a commitment by organizers to make government policy a mainstay of the annual Congress in the future.
The nurturing of new and young firms has so far not been given much attention in prominent global gatherings. International government meetings have mostly concentrated on passive SME policy and others like the World Economic Forum have treated entrepreneurs as a side ring at the circus. The maturing of the Global Entrepreneurship Congress (GEC) to fill this gap is thus a welcome development.
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