National Entrepreneurship Month honors American innovation
President Trump has proclaimed the month of November 2017 as National Entrepreneurship Month, celebrating American pride and the country’s two-plus centuries of innovation, hard work and an enterprising spirit that have driven our nation.
American entrepreneurs are known for inventing and selling new products and seeking, with these innovations, to be more competitive in the marketplace by lowering prices and both maintaining and increasing the quality of items produced.
Entrepreneurs create millions of jobs here and around the world, guaranteeing access to capital and markets with financing and development. This also brings about an easy way of exporting our products to the outside world.
As President Trump stated, in part, in his proclamation:
“This month, we emphasize the importance of creating and maintaining an economic and regulatory environment that helps new businesses thrive and inspires generations of entrepreneurs for the future.
My administration will continue its work to eliminate unnecessary, burdensome regulations and to fight for a simpler, fairer tax code that eases burdens on doing business and enhances access to capital. We want entrepreneurs to spend less time dealing with red tape and more time growing their businesses.
The American Dream should be within reach of all those who work hard.”
I personally back the President 100% in this area. In spite of the high fees now being paid by businesses in this country, a great effort is being made to eliminate needless regulations and also to revamp and simplifying the tax code, easing the burden of creating new businesses. A lot of bureaucracy ends up slowing development. I think we as Brazilians know that very well.
All these measures are needed to continue commercial expansion. With taxes and bureaucracy falling, the US will be bringing back companies that have left the country, as well as attracting even more investors.
The changes being made in the current tax situation have already improved the growth rate of business development that should reach 3% per year, and a new and more significant boom is expected in coming years. The rate of growth has already outdistanced many of the percentages racked up during the previous eight years.
Here are just a few statistics from fitsmallbusiness.com to support the president’s program:
- The United States provides the best environment for cultivating entrepreneurship, ranking 1st out of 138 countries using the Global Entrepreneurship and Development Index.
- 02 percent of the US adult population owns a business as their main job. (Source:Kauffman Foundation 2016)
- Business failure rates are in a long-term decline. The rate at which American entrepreneurs closed shops has fallen by 30% since 1977. (Source:Entrepreneur 2016)
- Entrepreneurs who succeeded in a prior venture, such as a company that went public, have a 30% chance of success in their next venture.
- 80% of entrepreneurs used their own money to fund their business. The remaining 20% received money from family, bank, or investors. (Source:BusinessDailyNews)
- 1% founded their own business, 11.3% purchased, 2.8% inherited and 4.4% were involved in a transfer of ownership or gift. (Source:United States Census Bureau 2016)
The conclusion: “Entrepreneurs are the ones changing the world, one solution and one innovation at a time.”
It must be remembered that entrepreneurship is a worldwide phenomenon. The GEN, Global Entrepreneurship Network, an institution established in 2008 which this year is celebrating its 10th edition, brings together entrepreneurs from around the world to put their ideas and actions on project platforms and into programs to make it easier to start a business.
This type of initiative not only helps entrepreneurs, but also researchers, politicians, investors and support organizations. This creates an environment of job creation, education of people and strengthened economic growth. After all, who does not want to learn and at the same time thrive financially?