The US startup rate has continuously fallen since the late 1970s. The Great Recession exacerbated the problem marking the first time on record that companies were dying faster than they were being born in the United States. A the same time, the technology sector in the United States has become the fastest growing, well-performing sector in the economy, with trillions of dollars created by startups and those areas that incorporate technology better than others.
But the value of those startups are also concentrated in a fewer metro regions. There’s also a growing inequality among types of workers, with 80%+ of value created in the tech sector increasingly concentrated in a small number of metro areas. The divergence and economic inequality means that many in the country are being left out of the economic prosperity that the tech sector enjoys.
It was against this thematic backdrop that the Kauffman Foundation released new entrepreneurship survey results findings in their 2018 State of Entrepreneurship Address yesterday in Washington D.C.
Put simply—fewer startups mean a lower quality of life. We need to eliminate barriers for anyone who has an idea to start and grow a business, and we need to redefine the meaning of “entrepreneur.” This is how we work toward a new, inclusive and empowering economy.
Watch the 2018 State of Entrepreneurship Address
Some Key Findings
The Kauffman Foundation conducted a nationwide survey of over 2,000 entrepreneurs. Some of the key findings include:
- Entrepreneurs are Optimistic about Their Future
- Entrepreneurs Struggle with the Nuts and Bolts of Business
- Entrepreneurs Don’t Believe the Government is Helping Them
- Entrepreneurs Want the Government to Promote a Business-Friendly Environment
