Last week we launched our first Business Plan Boot Camp here at Belmont. It is a three evening program for people who are new entrepreneurs and for entrepreneurs that have started businesses, but need some help getting their venture moving ahead.
Programs like this are popping up all over the country, with more and more accidental entrepreneurs.
The Kauffman Foundation announced that they are rolling out their FastTrac LaunchPad program in cities across the country to help give an entrepreneurial boost to the economy.
"Entrepreneurs will be the foundation of our nation's economic recovery because they start and grow businesses that create jobs," said Carl Schramm, Kauffman Foundation president and CEO.
Although education is one of the key elements to fostering entrepreneurship, lower tax rates, reducing regulation and protecting property rights all play a major role in spurring the creation of new businesses.
So what are we doing to cut taxes to encourage more business formation? Nothing. The President's new budget to be released this week will seek to raise tax rates. From the San Francisco Chronicle:
Obama also seeks to increase tax collections, primarily by making good on his promise to eliminate the temporary tax cuts enacted in 2001 and 2003 for wealthy taxpayers, whom Obama defined during the campaign as those earning more than $250,000 a year. Those tax breaks would be permitted to expire on schedule for the 2011 tax year, when the top tax rate would rise from 35 percent to more than 39 percent.
And what about protecting property rights? Well, Sen. Dodd is advocating nationalizing banks and the President's auto task force is aggressively moving to take control of the strategic direction of America's car companies.
Ever feel like you are trying to put out a forest fire with a garden hose?
Education is key. Knowing the fundamentals are critical. As a former entrepreneur (I sold out), I agree that entrepreneurship will be the backbone of the recovery. It has been the engine of our economy for a long time and will be for a long time to come. I do also believe that entrepreneurial time management is critical. Entrepreneurs need to stop simply doing (like they worked and a job) and start thinking strategically about growing their business. Here's a great article I recently read on the topic of entrepreneur time management and being a successful entrepreneur.