America’s New Business Plan was organized around the notion that policymakers must address four broad needs of entrepreneurs: opportunity, funding, knowledge, and support.
Through the COVID-19 pandemic, funding and support — the safety net that gives confidence to entrepreneurial risk-taking and new businesses the flexibility to thrive — have been top of mind, especially with so much conversation about the struggles of existing small business owners. But opportunity, a pillar primarily concerned with barriers faced by aspiring entrepreneurs, also deserves a spotlight as we consider the role of new businesses in driving our economic recovery.
America’s New Business Plan provides several recommendations around what government can do to strengthen opportunity for prospective business owners:
What can government do?
- Create an Entrepreneurship Impact Statement
- Streamline the process of starting a business
- Unleash the job-creating power of immigrant entrepreneurs
- Unlock entrepreneurial activity by reforming noncompete agreements
- Rein in occupational licensing
In recent weeks, several members of the Start Us Up coalition have been especially active on these very topics.
My company banned noncompete agreements. Here’s why others should, too
Thumbtack CEO Marco Zappacosta penned an opinion in CNN discussing the need to ban noncompete agreements and Thumbtack’s decision to do so. Citing research from the Economic Innovation Group, he discusses how these agreements have constrained 40% of workers, despite the fact that “job-hopping” was once largely responsible for Silicon Valley’s startup boom.
Trump And Congress Overlook Job-Creating Immigrant Startup Visas
Stuart Anderson, executive director of the National Foundation for American Policy, published a column in Forbes about NFAP’s report on startup visas. Anderson cites examples across the globe to support his argument that such a visa would help America’s economic comeback. Similarly, Anderson’s article on chef José Andrés shows how immigrant entrepreneurs are leading in their communities.
Peoria Groups Want to Help Start-ups Get Started
Last week, Peoria Innovation Alliance hosted an America’s New Business Plan town hall, a virtual gathering of local business and policy leaders to discuss the plan, as well as the needs of local entrepreneurs. In an interview with Peoria Public Radio, Executive Director Jake Hamann discusses ongoing meetings among area groups to streamline the process for those seeking to go into business for themselves.
We invite you to watch the town hall here.
Occupational licensing reform paves the way for women’s economic leadership in Missouri
And finally, after highlighting the Women’s Foundation’s success in Missouri to drive occupational licensing reform, President and CEO Wendy Doyle published a column in the Columbia Daily Tribune about the new law and the broad issues with occupational licensing.