Press Releases

WASHINGTON, D.C. — Today marks the beginning of Global Entrepreneurship Week. All around the world, cities will be hosting events that inspire millions to explore their potential as an entrepreneur while fostering connections and increasing collaboration within their communities. Co-Chairman and founder of the House Entrepreneurship Caucus, Congressmen French Hill (AR-02) released the following statement commemorating the beginning of Global Entrepreneurship Week: 

“The House Entrepreneurship Caucus is proud to celebrate the visionary men and women who boldly pursue their passion to build the small businesses that fuel our economy. Since the founding of our country, the United States has served as a global beacon of innovation and creativity, delivering remarkable new products and services that improve the lives of all Americans. Today, over 99% of U.S. employers are small business owners creating jobs for 57 million Americans. These small businesses are the lifeblood of our economy generating 44% of all U.S. economic activity.

“This ‘spirit of the start-up’ is built into our DNA. America is home to the world’s greatest inventions, companies, and technological advances because we believe that anyone with a good idea and determination can build a business that changes the world. The House Entrepreneurship Caucus believes in empowering the pursuit of America’s innovators by removing the barriers that make it harder to start a business. However, recent statistics from the U.S. Small Business Administration report that entrepreneurship growth has stagnated. The rate of self-employment among individuals age 15 to 34 has been gradually declining since 1990.

“The House Entrepreneurship Caucus was created to identify comprehensive answers on how to enact pro-growth policies for a 21st century economy. As an Arkansas entrepreneur and job creator, I know how difficult it can be to get a business off the ground. Working with entrepreneurs, business leaders, and economists to identify the root causes of the current ‘startup slump’ is a critical step to unleashing a new generation of small business growth.”


Background:

The bipartisan House Entrepreneurship Caucus launched in October to serve as a forum for policy discussions and collaboration to address the most pressing issues facing entrepreneurs throughout the country. The caucus will seek to analyze new business formation trends and form a wide-ranging strategy to boost entrepreneurship growth, ensuring new business ventures continue to create jobs and drive innovation.

Along with Congressman Hill, the House Entrepreneurship Caucus is led by Co-Chairs Congressman Bill Foster (D-IL), Congressman Steve Chabot (R-OH), Congresswoman Stephanie Murphy (D-FL), Congressman David Schweikert (R-AZ), and Congressman Marc Veasey (D-TX).

Earlier this month, the Co-Chairs of the House Entrepreneurship Caucus introduced the Enhancing Entrepreneurship for the 21st Century Act. This legislation directs the Secretary of Commerce to conduct a comprehensive study into the underlying economic factors driving the decline in rates of entrepreneurship, also known as the "startup slump." Economic research reveals that the rate of entrepreneurship in America has fallen to nearly a 40-year low. This decline is occurring in all 50 states, in almost all 360 metro areas examined, and across a broad range of industries. Click HERE for more information.