The policy conversation regarding jobs and economic development is starting to show some promising signs, particularly in helping young companies flourish. That the entrepreneurial ecosystem is critical to job creation should be obvious, but there remains a misperception that small businesses create jobs. In truth, it's not small business that represents the country's job engine. It's new businesses. The Kauffman Foundation's research on this matter is clear: From 1997 to 2005, job growth in the US was driven entirely by start-ups. What this means is that any economic development effort must be framed in the context of the following central question: How can the government help more young companies be formed, grow faster and achieve long-term success?
Entrepreneur-Friendly Policies (Finally) Showing Promise
Published Monday, October 3, 2011