Press Releases

How Can We Reverse the Entrepreneurship Decline?

SBC Examines Small Business Trends, Challenges and Opportunities

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Washington, July 19, 2017 | Sarah Althouse | comments

WASHINGTON – Today, the House Small Business Committee heard from industry experts on the challenges facing entrepreneurs and how the success of our small businesses have a major effect on the strength of our economy.   

“New and small businesses create the majority of our nation’s jobs and spur innovation. However, since the Great Recession, there has been a significant decline in entrepreneurship, which may in part explain the slow economic growth experienced in America today,” said House Small Business Committee Chairman Steve Chabot (R-OH).

“Universities have an important role to play in the entrepreneurial ecosystem. We can be critical players as the testing ground for the next generation of innovators. This involves not only focusing on what happens in the classroom but also giving students the breadth of knowledge in entrepreneurial thinking and emerging technologies necessary to thrive in any career. That includes opportunities for invaluable real-world experience that will prepare them to create their own business or excel in one,” said Gregory Crawford, Ph.D., President of Miami University in Oxford Ohio.

“Federal agencies are currently undergoing a process where they are reviewing regulations to identify those that can be streamlined, updated or repealed if they are duplicative or outdated. This is a healthy and needed process, and it is very positive to see the SBA’s Office of Advocacy directly engaged through their development of an online platform for small business input, and hosting roundtables across the country to receive their direct input. Clearing regulatory underbrush and streamlining rules is a good for startups and the U.S. business environment,” said Ms. Karen Kerrigan, President and CEO of the Small Business & Entrepreneurship Council in Vienna, VA.

You can view the full video of today’s hearing HERE and read the full witness testimony HERE

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