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In This Issue Growth Entrepreneurial Activities the Conference, Entrepreneurship (Only 26 Percent of the U.S Conference Explores How To Strengthen High In This Issue Growth Entrepreneurial Activities The conference, Entrepreneurship (only 26 percent of the U.S. work- Conference Explores How To and Public Policy: New Growth force holds a college degree), Strengthen High Growth Strategies for the 21st Century • Lagging investment in research Entrepreneurial Activities . .1 Economy, took place in Cambridge and development, April 10–11, 2001. This landmark • A shrinking base of science and New Advocacy Listserv Delivers event, sponsored by Harvard engineering graduates, Breaking News . .8 University’s Kennedy School of • The graying of America’s Government and the National workforce, and Commission on Entrepreneurship, • The need to improve local and brought together some 150 leaders regional economic development from government, academia, and efforts. Message from the business who explored issues of Throughout the conference, Acting Chief Counsel how government policy can stimu- entrepreneurs urged policymakers late and sustain entrepreneurship. to eliminate red tape, streamline Advocacy's Legislative Review Advocacy’s economist, Dr. Ying regulation, and create up-to-date Remains Vigilant . .3 Lowrey, attended the event and pro- rules governing e-commerce. vided this summation. Government’s Role. Government While the United States is wide- representatives offered remarkable ly considered as a model incubator stories of creating conditions 2001 Small Business of entrepreneurial activity, chal- conducive to entrepreneurship. Awards lenges remain on the horizon. Under Michigan Gov. John Engler’s Harvard Prof. Michael Porter high- leadership, the state’s unemploy- Highlights of the 2001 Advocacy lighted five looming problems: ment rate has remained below the Luncheon . .4 • The growing skills inequality Continued on page 2 Economic News Minority-Owned Businesses Show Growth . .6 Advocacy Joins Effort To Better Define Women-Owned Businesses . .6 Small Businesses and the Downturn in the Economy . .7 Advocate of the Year winners join Susan M. Walthall, Acting Chief Counsel for Advocacy (top row, center), for a photo after the Small Business Week Advocacy luncheon, attended by over 40 members of Congress. More photos on pages 4-5. The Small Business Advocate EditorRebecca Krafft Managing EditorRob Kleinsteuber Contributing EditorsKathryn J. Tobias, Brian Headd, David Voight Production AssistantDarlene Moye- Mahmoud The Small Business Advocate(ISSN 1045-7658) is published monthly by the U.S. Small Business Administration’s Office of Advocacy and is distributed to Small Business Administration field staff and members of the U.S. Congress. The Small Business Advocateis available without charge from the Office ofAdvocacy, U.S. Small Business Administration, Mail Code 3114, Washington, DC 20416. Harvard Professor Michael Porter, Michigan Gov. John Engler, Sen. Thomas Back issues are available on microfiche from the National Technical Information Carper (D-Del.), and Rep. Edward Markey (D-Mass.) address the forum, Service, 5285 Port Royal Road, ”Entrepreneurship and Public Policy: What's Government Got to Do With It?” Springfield, VA 22161. Send address changes to: The Small Conference, from page 1 Academia’s Contribution. Business Advocate, Mail Code 3114, national average for 53 consecutive Institutions of higher education have U.S. Small Business Administration, months. His policies targeted both a key role to play in providing edu- Washington, DC 20416. Include your the demand and supply side of cation, technology transfer, and current address label. employment: he introduced in-school intellectual stimulation. From the The Small Business Advocate Online: and job-training programs to enhance formation of business concepts, to www.sba.gov/advo/news/ the state’s human capital, as well as start-up, to scale-up, academia has Electronic delivery of The Small Business Advocateis available by visiting a series of tax initiatives to reduce the potential to offer entrepreneurs www.sba.gov/advo/news/.Subscriber burdens on job providers. new inspiration, knowledge, and skills. information will be kept confidential and Austin Mayor Kirk Watson set out The success of regional innovation not used for any purpose except for newsletter delivery. To discontinue print to create a “braggable” habitat— clusters such as Boston and Austin, delivery of The Small Business Advocate, onethat would attract and retain tal- anchored by such institutionsas send an e-mail with your current mailing entedpeople. Capitalizing on Harvard, MIT, and the University information to [email protected] call Austin’s location, its music scene, of Texas at Austin, are models of (202) 205-6533. and airport, he has helped shape this entrepreneurial/educational Federal Recycling Program policies that embrace diversity symbiosis. Printed on recycled paper. (including a large gay population), Growth Strategies for the 21st emphasize education, and encour- Century. In the face of current age lifetime learning. Watson challenges, the conference offered of business entrepreneurs. recently won his re-election bid plenty of growth strategies for the • Attracting Financing. Policy- with the largest majority of any new century. makers must create a local demand Austin mayor. • Human Capital. The pivotal for venture capital by creating an Ray Moncrief, COO and execu- factor in building and strengthening environment attractive to investors, tive vice president of the Kentucky entrepreneurship is human capital. rather than focusing solely on Highlands Investment Corporation, As Professor Richard Florida point- enlarging the venture capital pool. pointed out that the SBA’s SBIC ed out, “When you get the best Special attention should also be programand related government people, you win!” Why has paid to businesses run by women programs have played a key role in America enjoyed such sustained and minorities, as well as to rural bringing risk and equity capital into and long-term economic growth? It or underdeveloped regions. Programs the rural areas of Kentucky. These attracts the best talent in the world. such as the SBA’s SBIC should be programs have helped train people •Entrepreneurial Education. continued to bring opportunities to to use risk capital in order to start Universities must offer more inspi- those who have been left behind. and run successful companies, rational courses and more hands-on • Taking Venture Capital Global. helping create thousands of jobs in opportunities for talented students Venture capital investment in global the region. who represent the next generation Continued on page 3 The Small Business Advocate page 2 June 2001 Message from the Acting Chief Counsel Advocacy’s Regulatory Review Remains Vigilant by Susan M. Walthall, Acting Chief Counsel, Office of Advocacy I grew up in a small family-owned • Environmental Protection business and have many fond mem- In an ideal world we Agency proposals, including air ories of helping my father shape would work ourselves toxin rules that affect small plastic duct work for the air conditioning out of a job because the component manufacturers; lead systems that he installed. I also had agencies would do the toxin reporting rules; snowmobile a chance to see the impact that usage rules; and rules affecting excessive or unneeded regulations right thing in the first small manufacturers of nonroad had on his business. That experi- place. engines. ence is one of the reasons that I In all of these cases there is a really feel honored to have been is given an important role in seeing well-defined segment of the small named the acting chief counsel for that these laws are carried out. business community that would the Office of Advocacy. There is considerable variation in face significant problems if the The work of the Office of compliance. Some agencies have rules were not changed. We try to Advocacy goes right to the heart of gotten to be rather good in carrying work with the proposing agency to the kind of problems that my father out the letter and the spirit of the make sure that they are aware of encountered years ago—and that law. Others are not nearly as sensi- their obligations to small entities remain with us yet today. Congress tive to small business concerns as and that they seek the least burden- brought Advocacy into existence 25 they should be. some way of reaching their objec- years ago out of recognition that far Likewise, there is a wide range tives. too many agencies simply had no of issues and agencies involved. In an ideal world we would work idea what impact their regulations Consider a brief sampling of some ourselves out of a job because the had for small businesses. of the dozens of items that have agencies would become so sensitive The core mission of Advocacy is come across my desk in the short to small businesses’ needs and con- to be the voice for small business period I have been acting chief cerns that they would do the right when the government proposes counsel: thing in the first place. I can tell rules and regulations. That voice • Contract bundling; you that we are a long way from has gotten stronger over the years, • Patent protection in foreign that nirvana. At the same time, especially when Congress passed markets for small inventors; however, I feel that there is a lot of the Regulatory Flexibility Act in • A Labor Department definition room for optimism. More and more 1980 and the Small Business of domestic companion that would agencies are working closely with Regulatory Flexibility Act in 1996. severely harm small home health us and are becoming better in con- Under these laws, agencies must care agencies; sidering the impacts their proposals consider the impact of their propos- • Bureau of Land Management have on small businesses. als on small entities, and Advocacy reclamation rules; Conference, from page 2 • Technology Transfer. dialogue among entrepreneurs, aca- Entrepreneurial success hinges on demics, and policymakers is key to markets should be encouraged. Not new information and cutting edge molding the future environment only do U.S. investors have the ideas. It is also influenced by an that will stimulate and sustain opportunity to earn higher returns array of public policies.
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