You'd have to be a hermit to not know this is an election year. Our news is filled with coverage on the upcoming presidential primaries. There are senate and house representative elections in every state this year and scores of local elections.
There is no shortage of issues for the candidates to discuss this year. The presidential candidate debates have been consumed with talks on healthcare, immigration, government spending, foreign policy, and much more.
There's one topic, however, that hasn't gotten much attention from the candidates but is actually worthy of much more of their time. Small Business.
For the first time in the history of this country, entrepreneurship in the United States is on the decline. Fewer small businesses are getting started each year than ever before, and the total number of small businesses in this country has dropped as more businesses are closing their doors.
One of the greatest institutions in this country, small business, is at peril and nobody in government seems to care. This is despite the fact that small business creates the majority of new jobs in the U.S. (about 75%), leads the way for innovation (10-15 times more than larger companies), and is the primary driver of the overall domestic economy (over 50% of GDP).
What's causing entrepreneurship to decline in the U.S.? Several key factors are at play: