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Alabama officials unveil ‘entrepreneurial roadmap’ to boost business formation

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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.
Alabama’s news provider Waff.com reports that local government officials are planning to create an “entrepreneurial roadmap” that will foster creative ventures and encourage business incorporation in the region. The roadmap is a joint effort of the business advocacy group the Committee of 100, the University of Alabama and other organizations.

Participants in the roadmap will have the chance to hear accomplished business owners discuss strategies for success.

Donna Lamb, chair of the Committee of 100, told the source this endeavor aims to “develop long-term strategies that create jobs and improve [Alabama residents’] quality of life.” The roadmap will particularly cater to technological startups as officials think these offer the best chances for business development in the state.

Investments in tech industries may pay off. According to a survey from the Silicon Valley Leadership Group, 304 U.S.-based early-stage technology firms are planning on making new hires in 2010.