RCP publisher and co-founder Tom Bevan speaks with Wendy Guillies, president and CEO of the Kauffman Foundation about the status of entrepreneurship in the U.S. today.
The Kauffman Foundation produces an annual report on the state of entrepreneurship, about which she said:
WENDY GUILLES: Let's start with the good news. Entrepreneurship is on a rebound, so we are seeing more startups, and we are seeing them growing to scale more quickly. And mainstreet local small businesses are at a high as well.
The bad news is we are still in a long-term decline from a generation ago, and so that is really affecting the economy and leaving a lot of people out of the economy.
Entrepreneurship rates are in long term decline, "half of what they were a generation ago," Guillies said. "There are fewer jobs, growth has stagnated, productivity is down."
She pointed to insufficient education and student debt as two factors limiting economic growth in small businesses.