Last week, America’s New Business Plan celebrated its first anniversary.
In just one year, the conversation around new and small businesses has changed dramatically. Once an afterthought to big business, COVID-19 brought entrepreneurship to the forefront of our national and political dialogue. The realities for new and small business owners have evolved too.
And yet, even as much has changed, too much has stayed the same. Even as policymakers give lip service to new and small businesses as the backbone of the American economy, too few have acted to ensure their survival.
Despite tremendous opportunity for policy action, we’ve seen little movement — particularly at the federal level.
But there is hope.
New business applications are surging to historic levels, signaling a rise in entrepreneurial interest and potential economic impact. Policymakers nationwide have a duty to respond with policies that ensure new business survival, so these job-creating enterprises can power America’s recovery — in big cities, small towns, and everywhere in between.
Launched in the early weeks of the crisis, our Rebuilding Better plan highlighted steps policymakers could take to facilitate the recovery and ensure a more equitable, just, and dynamic post-pandemic entrepreneurial landscape. Though COVID-19 is not yet behind us, this surging interest gives us hope that the moment is rife with opportunity for the start of a new era.