Report Offers New Look At Entrepreneurship In The 21st Century

Entrepreneurs are a dynamic force that will
dramatically shape America’s 21st century economy. Yet they will be
buffeted by many forces, some of which will require innovative public
policy responses. These findings are central to a new report,
Entrepreneurship in the 21st Century http://www.sba.gov/advo/stats/proceedings_b.pdf, issued today by the
Office of Advocacy.

Conference Co-Sponsored By The Ewing Marion Kauffman Foundation

Speaking at Batten Institute of the Darden Graduate School of
Business Administration, Advocacy Chief Economist Chad Moutray said, “Many
changes will alter our economic landscape, but one thing will not change:
the importance of entrepreneurs. Their innovation and hard work will
continue to ensure that small business will play a major role in shaping
our 21st century economy.”

Small businesses are an important force in the U.S. economy. They
account for half of private, nonfarm gross domestic product, employ half of
the private work force, and generate 60 to 80 percent of the net new jobs
each year. Research continues to document the role that small firms play
in innovation and new firm formation.

Academics and policymakers have begun to pay more attention to
small business interests and the important role that entrepreneurship has
in our economic growth. Entrepreneurship in the 21st Century addresses the
issues that will shape small business’s contribution to the nation’s
economy.

The report compiles the proceedings of the Entrepreneurship in the
21st Century conference held in March, which was co-sponsored by The Ewing
Marion Kauffman Foundation. Copies can be ordered by calling the Office of
Advocacy at (202) 205-6533.

The Office of Advocacy, the “small business watchdog” of the
government, examines the role and status of small business in the economy
and independently represents the views of small business to federal
agencies, Congress, and the President. It is the source for small business
statistics presented in user-friendly formats and it funds research into
small business issues.

For more information, visit the Office of Advocacy website at
http://www.sba.gov/advo.

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Created by Congress in 1976, the Office of Advocacy of the U.S. Small
Business Administration (SBA) is an independent voice for small business
within the federal government. Appointed by the President and confirmed by
the U.S. Senate, the Chief Counsel for Advocacy directs the office. The
Chief Counsel advances the views, concerns, and interests of small business
before Congress, the White House, federal agencies, federal courts, and
state policy makers. Economic research, policy analyses, and small
business outreach help identify issues of concern. Regional Advocates and
an office in Washington, DC, support the Chief Counsel’s efforts. For more
information on the Office of Advocacy, visit http://www.sba.gov/advo, or call
(202) 205-6533.