New Business ventures are always important for getting an economy out of recessions. Unfortunately, the development of enterprise has been lagging behind the experience of past recessions.
According to the Bureau of Labor Statistics, in their first 90 days, new businesses produced about 14% of hiring between 1993 and 2008
Because banks are not making sufficient loans, small business formation today is in a major funk. Furthermore, they are afraid to hire because of the increasingly oppressive tax picture. Add to this the constant barrage of threats from Washington of health insurance legislation and the higher federal and state minimum wage regulations.
Left-leaning politicians talk jobs. The only ones they like revolve around government and the big union varieties. Small business is not in their vocabulary.
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