Excellent point from Andrew Yang Publishing in Business Insider. Even with the advent of Crowdfunding, among other funding avenues, starting a business is really tough. Continuing the thought Mr. Yang posits that entrepreneurs will never rely on the government. We wholeheartedly agree.
Making things more difficult is that, unless a company has already reached a certain size or scale, start-ups tend to remain unaffected by top-down policy changes. Even with the advent of crowdfunding, angel investors, accelerators, economic development corporations and investment tax credits, most new businesses remain reliant upon personal savings, credit cards, and friends and family for their first several steps. A tax break may or may not convince Uncle Johnny to cut that check and stay patient.
Yes there are some good programs out there that further Economic Development – he calls out Cleveland’s JumpStart by name. But in the end the tenacity of the entrepreneur is the driving force. As we have covered here at CrowdFundInsider, it is the gains in efficiency which can be realized by allowing Crowdfunding to flourish.