PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

SBE Council Small Business Week Analysis Points to 3.4 Million “Missing” Businesses

By at 3 May, 2017, 9:42 am

NEWS

 

For Immediate Release                                                           

Washington, D.C. – It’s National Small Business Week 2017, and the Small Business & Entrepreneurship Council (SBE Council) is reminding elected officials and policymakers about the continuing need to focus on policies that encourage startup activity in the United States.  Today, SBE Council released updated data on the state of entrepreneurship and small business in the U.S., which shows a continuing dearth of entrepreneurial activity.

The analysis – “Small Business Week 2017: The State of Entrepreneurship and Small Business – examines three key measures of entrepreneurship and business activity, and unfortunately, these, along with other indicators, show a significant decline in entrepreneurship and business activity over at least the past decade.

SBE Council chief economist Raymond J. Keating explained, “If we look at incorporated and unincorporated self-employed, and employer firms as shares of the relevant population, we see a troubling and significant shortfall in the number of businesses compared to where we should be. Indeed, these numbers point to some 3.4 million missing businesses in the U.S.”

Keating added that based on previous analyses done by SBE Council, those 3.4 million missing businesses lie on the conservative side of the estimates.

Keating concluded: “Looking ahead, entrepreneurship needs an improved policy foundation centering on tax relief and reform, regulatory relief and reform, free trade, reining in government spending, and sound monetary policy. There is hope coming from initial moves advanced under our new presidential administration and Congress on the tax and regulatory fronts. Our elected officials need to continue to move forward to get U.S. entrepreneurship flourishing again.”

Contact: Raymond J. Keating

631-909-1122 or 703-242-5840

Email rkeating@sbecouncil.org

SBE Council is a nonpartisan, nonprofit advocacy, research and education organization that works to protect small business and promote entrepreneurship. For nearly 25 years SBE Council has worked to successfully implement a range of policy and private sector initiatives to strengthen the ecosystem for startups and small business growth. To learn more, visit SBE Council’s website: www.sbecouncil.org. Follow on Twitter: @SBECouncil

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