NEWSRELEASE
For Release: July 21, 2004
Contact: John McDowell, (202) 205-6941
john.mcdowell@sba.gov
SBA Number: 04-25 ADVO
Report Offers
New Look At Entrepreneurship
In The 21st Century
Conference Co-Sponsored By The Ewing Marion Kauffman Foundation
WASHINGTON, D.C. Entrepreneurs are a dynamic force that will dramatically shape Americas 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, issued today by the Office of Advocacy.
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 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 Counsels efforts. For more information on the Office of Advocacy, visit www.sba.gov/advo, or call (202) 205-6533.