(WASHINGTON, D.C.) Feb. 15, 2017 — Ewing Marion Kauffman Foundation Vice President of Entrepreneurship Victor Hwang will address members of the U.S. House Small Business Committee at a hearing on the State of the Small Business Economy. The hearing, held by the Subcommittee on Economic Growth, Tax and Capital Access, will be streamed live Feb. 16, 2017, beginning at 11 a.m. EST.
Despite recent upticks in business creation and growth indicators, new firm formation remains in a long-term deficit, roughly half of where it was a generation ago. Hwang will describe how this decline hurts more than just entrepreneurs. It is a trend with broad implications for America’s overall spirit and competitiveness while also negatively affecting American workers. New economic research demonstrates that the entrepreneurship deficit is tied to stagnant productivity, job loss, inequality and growth, which means lower wages and living standards for Americans.
Hwang will propose a new approach to reversing this decline that focuses on supporting the entrepreneurs who create opportunity, wealth and jobs in the United States. Hwang will present three megatrends shaping entrepreneurship today that offer challenges and opportunities to reversing entrepreneurial decline.