Why Startups Should Be Our Number One Priority For Job Creation
Why Startups Should Be Our
Why Startups Should Be Our
Number One Priority for Job Creation
On September 27 President Barack Obama signed a
small
business jobs act worth 17b meant to spur job creation. In the bill youll
find everything from tax cuts, tax credits, funds allocated to the Small
Business Administration for purposes of loan distribution, and of course bank
loan guarantees. With the November mid-term elections around the corner there
is no surprise that this administration is doing everything it can to look
productive, but many skeptics question the bills potential to do what it is
set out to do create jobs.
The
bill, at first glance, may appear to have legs to the untrained eye. However,
there are a number of things to consider. First and foremost, will the entities
most likely to create jobs actually receive financing? According to research by
the Kauffman Foundation in their
Neutralism
and Entrepreneurship report,
businesses that are most likely to create an increase in new net jobs do so
between the early ages of 1-4. In fact, businesses in existence
5 years
and below contributed to 34% of the new jobs created in 2005. Moreover,
there is one implicative truth that we cannot ignore about startup companies.
They traditionally do not receive financing from banks or the SBA, but usually
through venture capitalists, angel investors, or personal assets. This gives
way to questioning a jobs bill that in many ways overlooks a major source of
job creation.
Entrepreneurship Development has
always been a cornerstone contributor in the building of the United States
beyond merely job creation. In the landscape of business evolution, innovation
has always led the way of change. Change via inflow and turnover of products,
businesses, and industries. Much of this innovation is birthed from the
nuprenu. Once upon a time Google was a
startup, is now one of the worlds most powerful brands and has permeated all
sectors of online marketing. If were looking to revitalize our country we must
start by establishing a climate conducive for growing startup companies and
entrepreneurial opportunities,
while not ignoring the special needs of established small businesses and corporations.
by: Austin Rolling, nuprenu
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