U.S. Senator David Vitter (R-La.), Chairman of the Senate Committee on Small Business and Entrepreneurship (SBC), today lauded a new report by the Kauffman Foundation that demonstrates the growth in entrepreneurship in recent years.
“I am encouraged by much of what today’s new report illuminates, namely that young, high-growth firms are growing and scaling up employment at a faster rate than we have seen since the Great Recession. Despite the positive index for 2016, I am concerned that many U.S. growth indicators remain in a long-term decline, with the rate of startups persisting below the levels experienced in the 1980s and ‘90s,” said Vitter. “As the Chairman of the Small Business and Entrepreneurship committee, I look forward to continuing to do everything I can to make sure small business owners and entrepreneurs have the tools they need to continue creating good-paying jobs, growing our economy, and maintaining our nation’s competitiveness in innovation and economic success.”
The Kauffman Foundation issued a report today entitled, “The 2016 Growth Entrepreneurship Index,” which shows that American small businesses are growing faster and reaching higher scales than in recent years, resulting in young companies creating more than 200,000 more jobs than in the previous year.