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Week of January 24 - January 28, 2005Welcome 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 NDE-news, we bring you short summaries and analyses of various trends driving the innovation economy. Subscribe now to receive your weekly copy. Archived issues are available online. Links to the day's entrepreneurship stories from across the nation and around the world are posted each weekday on the NDE main page - bookmark it and stay informed about the latest entrepreneurship news. |
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The FY 2006 Federal Budget: HUD Programs on the Move? A recent article in
The Washington Post adds fuel to the fire in the debate over federal economic development programs. According to a front-page article from reporter Jonathan Weisman, the upcoming 2006 budget proposed by the White House will look to eliminate or consolidate what it sees as duplicative or ineffective economic development programs within the Department of Housing and Urban Development (HUD). According to the article, HUD’s community branch, which now spends roughly $8 billion per year, will be significantly cut back and many divisions will be moved to the Departments of Commerce and Labor. Although budget plans are still being finalized, the article notes that the Community Development Block Grant program could be slashed by up to 50%, and the Rural Housing and Economic Development Program (which spent nearly $24 million last year) would be eliminated. The Community Development Block Grant and two other programs – Brownfields Economic Development and Empowerment Zones/Renewal Community – would be shifted to the Department of Commerce, while the Youthbuild USA program would be moved to Labor. The President’s proposed budget generally marks the start – not the end – of budget wrangling, so expect a busy and contentious debate over these proposals. |
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Innovation as a Tool for International Development In 2000, UN Secretary-General Kofi Annan chartered a whole host of initiatives tied to the UN’s Millennium Development Goals, a package of plans to reduce poverty and promote new development by 2015. As part of this effort, a UN Task Force on Science, Technology and Innovation was set up; this group has just released a new report entitled
Innovation: Applying Knowledge in Development. The report examines the role of science, technology, and innovation in meeting the Millennium Development Goals. The Task Force sees a big role for entrepreneurship, and it encourages UN members to do more to support the development and small and medium-sized enterprises. They also suggest that universities take a more proactive role in supporting development, via support for regional development projects, local support for business creation, and other community development activities. |
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Firm Innovation in Europe A recent European Union (EU) backed survey of European companies offers some interesting insights on the region’s innovation climate. Researchers interviewed more than 4,500 managers at small to medium-sized businesses (with between 20 and 500 employees) in all 25 EU nations to assess how these companies promote innovation. The survey found that a slight majority of firms had introduced new product or process innovations in the past two years, but very few had taken steps (e.g. via patenting or licensing) to protect such innovations. Somewhat surprisingly, few managers cited regulation as a major business obstacle. Only one in five managers at innovative firms felt that compliance with regulations created a competitive disadvantage for their company. Finally, the survey found that innovative firms tend to be more open and collaborative than their counterparts. These firms are more actively engaged in local innovation networks and are more likely to invest resources (e.g. for staff training) to support innovative activities. |
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Building Wealth Via Franchising When we think of entrepreneurship, we often fail to recognize the importance of franchising as one important path to business success. Lots of successful entrepreneurs built wealth by creating franchises or by being a franchisee themselves. The February 2005 issue of
Entrepreneur magazine lists North America’s 105 fastest growing franchises for the past year, and the rankings are quite instructive about what’ s hot and what’ s not. If we go by this year’s list, fitness and cleanliness are in. This year’s top five franchises (measured by growth in the number of franchise units) are: Curves, Subway, Jan-Pro Franchising Intl. (commercial cleaning), Coverall Cleaning Concepts, and Quizno’s Subs. |
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Lunch Briefing Examines Entrepreneurship & Regional Economic Growth The National Dialogue on Entrepreneurship continues its lunch briefings on Capitol Hill this week with a look at the relationship between risk-taking, innovation, serial entrepreneurs and regional economic growth. The forum will offer helpful suggestions for policymakers looking to provide leadership in helping communities leverage their unique assets toward creating innovation. |
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