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Week of September 27 - October 1, 2004Welcome to the National Dialogue on Entrepreneurship, an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through e-News, we bring you short summaries and analyses of various trends driving the innovation economy. Current and archived issues of e-News are available online at www.publicforuminstitute.org/nde/news/enews.htm. To subscribe, visit www.publicforuminstitute.org/nde/join/ Links to the day's entrepreneurship stories from across the nation and around the world are posted each weekday at www.publicforuminstitute.org/nde - bookmark it and stay informed about the latest entrepreneurship news. |
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Notes from Capitol Hill Although Congress is unlikely to finish the upcoming government budget (fiscal year 2005) by the end of this fiscal year (September 30), they are succeeding in moving forward with a few key spending bills. The Senate Appropriations Committee recently finished action on the Commerce-State-Justice Appropriations bill which includes funds for the Small Business Administration (SBA), Department of Commerce, and other key agencies focused on the entrepreneurial economy. If you like these programs, the news is pretty good. For example, the Manufacturing Extension Partnership (MEP) and the Advanced Technology Program (ATP), which were facing drastic reductions or elimination, both receive major funding increases in the Senate bill. Over at the SBA, the overall budget could increase by $50 million compared to last year’s level. Within this total, several microloan programs (slated for shutdown) were refunded, and the 7(a) loan program receives a slight increase in funds compared to the President’s original budget request. The Senate analysis predicts that SBA should be able to support a total program volume of $14.5 billion in loans next year. The House completed action on this proposal earlier this summer, and it also was relatively favorable toward these programs. Thus, the upcoming House-Senate conference deliberations should proceed relatively smoothly. Look for more details in a future e-News.
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Dueling Indices It was the best of times; it was the worst of times. That’s the message from two small business indices released earlier this month. The National Federation of Independent Business’ (NFIB) monthly index of small business indicators shows a slight drop in small business confidence from July’s near-record levels, but the overall level (102.9) of small business owner’s confidence is quite high compared to recent months. Meanwhile, Rep. Nydia Velazquez (D-NY) and her fellow Democrats on the House Small Business Committee have released their own take on the state of small business in the second quarter of 2004. Their view is decidedly more gloomy as their Index reached a seven-year low. The index includes seventeen measures that track job growth, new orders, fuel costs, and other key indicators. Poor conditions facing small businesses are attributed to rising business costs (especially for fuel and health care), difficulties in accessing capital, and limited job growth.
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Kauffman/RAND Small Business Research Center Perhaps these differing views of the small business economy will be resolved by new RAND Corporation research center being developed with support from the Kauffman Foundation of Kansas City. The Kauffman-RAND Center for the Study of Small Business and Regulation will analyze how regulatory and legal policies affect small business and entrepreneurship. This center will be headed by RAND economist Susan Gates, and it is already underway with studies of, among other things the history of small business regulation and the impact of new accounting and audit rules on small firms.
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Innovation in the South How is the American South doing in terms of innovation and entrepreneurship? Pretty good, according to a new study from the Southern Technology Council.
Not Invested Here: the 2004 Southern Innovation Index finds substantial progress in Southern states since the Index was last completed in 2002. The index’s core technology measures (such as internet penetration, patents, and population with science and technology degrees) improved by an average of 16% since 2002. Investment capital remains the primary shortcoming as Southern states perform below national averages in terms of accessing venture capital and research and development investments. The report also includes useful summaries of the innovation environment in 13 Southern states and Puerto Rico.
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