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Current Entrepreneurship and Innovation Policies (view source)
Revision as of 11:47, 13 June 2016
, 11:47, 13 June 2016no edit summary
===Federal Policy===
Several policies affecting small businesses and entrepreneurship have been discussed in Congress. The following is a summary of some acts and policies that have a significant impact of entrepreneurship in the United States. A comprehensive list of policies on entrepreneurship reports by the Senate Committee on Small Business and Entrepreneurship can be found [[Acts Reported on by the Senate Committee on Small Business and Entrepreneurship | here]].
*The '''Small Business Innovation Research (SBIR)''' program<ref name="kauffman" /> was introduced by the U.S. Congress in the early 1980's to enhance long term growth among small businesses. It is currently coordinated by the Small Business Administration (SBA). They offer grants to small businesses (typically with 25 or less employees) to financially boost the company's outlook and additionally assign the company's a sign of quality which consequently starts to attract further external investments. Academic research has shown that SBIR awards significantly increases the likelihood of subsequent venture capitalism funding in future years. There additionally has not been many indicators of SBIR grants crowding out private investors because the program targets small businesses with researched potential that informs private investors on the quality of upcoming startups. Research and data analysis of the effects of SBIR are highly in favor of the view that the program enhances entrepreneurship, innovation, and the venture capital industry in the United States.
*The '''Jumpstart Our Business Startups (JOBS) Act of 2012''' was enacted to provide looser security regulations for entrepreneurs and investors to allow for more funding and potential for success for startup businesses. Two specific provisions of the act are especially impactful for small businesses: Title II and Title IV. Title II indicates the increase in the number of potential investor that a company can communicate with in order to acquire funding. Title IV allows investors to put almost 10 times more funds into companies with much less restricted investing requirements.<ref name="kauffman" />
