U.S. Chamber Study Shows How States Are Promoting Small Business Development and Free Enterprise
Group of Governors Highlight New Strategies for Economic Growth and Job Creation
WASHINGTON, D.C.— A new study finds that states are employing and supporting new and innovative policies to support small businesses in a diverse, rapidly changing economic environment. The fourth annual Enterprising States study, commissioned by the U.S. Chamber of Commerce Foundation and prepared by Praxis Strategy Group, was unveiled today at the U.S. Chamber’s Small Business Summit.
“Small business is already leading the recovery, but with the right policies we can move past the recovery stage and on to revitalization,” said U.S. Chamber President and CEO Thomas J. Donohue. “We need more policies like those outlined in the Enterprising States study to drive stronger growth, competition, and success among small businesses across the country. When these businesses succeed, America succeeds.”
The 2013 Enterprising States study measures state performance overall and across five policy areas important for job growth and economic prosperity—exports and international trade; entrepreneurship and innovation; business climate; talent pipeline; and infrastructure. In addition, the study highlights a number of specific policies and programs that many states are implementing, often in cooperation with local and regional economic development organizations, to encourage entrepreneurship and support business development and expansion.
Every state has policies and programs that are intended to encourage entrepreneurship and support small business development and expansion. Many states have introduced legislation or established programs to focus on startup companies, and have bolstered policies targeted at helping existing businesses grow and expand their markets. According to the Chamber’s study, state funding of programs for entrepreneurial development is estimated to have increased by 30% between 2012 and 2013. During a panel discussion today at the Small Business Summit, Governors Paul LePage of Maine, Tom Corbett of Pennsylvania, and Scott Walker of Wisconsin discussed many of the initiatives they are implementing to create and expand small businesses.
“These governors recognize the importance of small businesses and are working to reform state policy to make growth and commerce easier for small business owners,” said U.S. Chamber Foundation President Margaret Spellings. “By offering fast-track access to financial resources and state services and searching for innovative ways to encourage job creation through the private sector, they are helping to grow and sustain the true driving force of the economy.”
This year, the Enterprising States study is also available in an online platform, which allows users to search and sort through state-specific data. This interactive tool is designed to help users view and share the study’s findings. The Enterprising States dashboard is available here, and the full study is available here.
The U.S. Chamber of Commerce Foundation (USCCF) is a 501 (c)(3) nonprofit affiliate of the U.S. Chamber of Commerce dedicated to strengthening America’s long-term competitiveness by addressing developments that affect our nation, our economy, and the global business environment.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.