Small businesses and startups employ approximately half of all private sector workers and are responsible or nearly half of the US’s economic output. Yet, over the last 25 years new business formation has been in a structural decline creating risks to our economic growth, job creation, and innovation.
Community bank consolidation, technology, globalization, and policy changes have disproportionately impacted small businesses and start-ups by fundamentally changing the competitive landscape and entrepreneurial ecosystem.
The Small Business Policy and Innovation initiative aims to address these challenges through policy recommendations and program solutions to foster a more robust entrepreneurial environment and inclusive prosperity across regions and demographics.