According to a report from the Small Business Administration, SMBs have created 64 percent of net new jobs over the past 15 years. While the national unemployment rate lingers at 9.7 percent, some state leaders are taking steps to promote business formation to recover local economies.
Experts predict that small businesses will lead the economy out of recession. In the state of California, officials are trying to give entrepreneurs tools needed to help the local economy recover quickly. Santa Clara University will offer a free entrepreneurship program beginning this in June, reports Seattle PI.
At the height of economic recession, Wisconsin’s Small Business Development Center assisted more than 250 companies in developing successful business plans and helped bring in more than $22 million in capital gains.
Entrepreneurs might seriously consider business formation in the coming months. C corporations may not only soon help bring investors, but the entities also offer entrepreneurs medical expense deductions for workers.
Although the recession has not been declared officially over, it seems that the economy in Ohio is on the mend. According to a report for the Columbus Dispatch, the state is “growing a crop of new businesses.”
A study from the Bureau of Labor Statistics indicates sustained business formation rates will be critical to recovering the economy. Officials in Ohio are not taking any chances that their state will lag behind.
Funders in Minnesota say loan applications and the entrepreneurial enthusiasm in the northeastern part of the state have grown this year, reports the state’s news provider Home Town Focus. In order to encourage this rising business activity, the Arrowhead Growth Alliance is accepting submissions for its 6th Minnesota Cup competition.
According to the Silicon Valley Leadership Group, there was a 37 percent decline in venture capital investment in 2009. Startups looking to find funds this year might consider tips offered by venture capitalist Mark Suster.