Are entrepreneurial policies predominate or just growing? Many people that were once employed by big corporation leaving (laid off) and starting their own businesses. The younger generation are following in the path as well (esp in the tech industry). Government supports these like-minded people with grants.© BrainMass Inc. brainmass.com December 24, 2021, 11:50 pm ad1c9bdddf
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Are entrepreneurial policies predominate or just growing?
Entrepreneurial policies are changing and adjusting to market needs. From local to state to federal government, the policies are supposed to help the entrepreneur create and maintain a business. Entrepreneurs are not those just starting small businesses, but businesses that are new, different, and at least somewhat risky. Government policies range from taxes and regulations to start up and capital funding sources to legal and other protections.
The government provides tax breaks for companies and that includes entrepreneurial businesses. However, it also does not include small, limited employment concerns, which are often too small for the protections provided both in terms of taxes and legal issues like the Family Leave Act. Local governments will provide tax breaks, but they too want assurances of future growth and employment for citizens along with expansion of the tax base for their efforts. States are working on lowering the overall tax burden by expanding exemptions to promote entrepreneurship (Garrett, 2005).
Legal protections are more geared to protection of small enterprises and startups. These give rights to property including intellectual property. States and larger companies cannot take these properties established by an entrepreneur away simply because they are larger or have more power. Having the right to control or obtain benefits from a good or service is important to be successful for any business and more so to an innovative or risky business opportunity. The government also tries to find ways to lower the costs of starting a business. Time to start the company is less in the U.S. than in many other countries. This includes filing paperwork, paying fees (both of which can be done online in most cases), and forming the type of business. The government also provides ways to access loans, grants, and the repayment plans that best suit the business. Interest rates for businesses are reasonable and so are the repayment periods. The government does not, however, plan for or manage the potential capital available to businesses, except within some government grants.
Garrett, T.A. (2005) https://www.stlouisfed.org/publications/bridges/spring-2005/entrepreneurs-thrive-in-americafederal-state-policies-make-a-difference-for-those-facing-risk.© BrainMass Inc. brainmass.com December 24, 2021, 11:50 pm ad1c9bdddf>