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SBA report urges new policies that aid entrepreneurs

August 9, 2004 /

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A new report by the Small Business Association’s Office of Advocacy says entrepreneurs will be a major force in shaping the economy, and new public policies should be developed to remove barriers to small-business growth.

Rob Kaiser

http://www.chicagotribune.com/business/chi-0408090103aug09,1,2754497.story?coll=chi-business-hed

In the past decade, small firms created 60 percent to 80 percent of new jobs, according to the "Entrepreneurship in the 21st Century" report.

Minority and women-owned businesses have become more prevalent. The number of minority-owned firms went from 7 percent of all businesses in 1982 to nearly 15 percent in 1997, while the number of self-employed women grew from 1.76 million in 1976 to 3.75 million in 2000, the report said.

Key problems facing small business, and in need of public policy review, include rising health insurance premiums and health plan administrative costs, which are significantly higher for small firms than large ones. Other issues included the costs of complying with federal regulations, litigation and global competition. The report is available at http://www.sba.gov/advo.