Entrepreneurs are Key to Economic Growth: Just Ask Hillary Clinton

Sylvia Sommer | August 7, 2015


In an article for TechCrunch, Josh Constine (@JoshConstine) sheds light on Hillary Clinton’s recent comments on the sharing economy, or what she called the “gig economy.” Clinton is referring to companies like Uber who have built their businesses on droves of independent contractors. Intrigued by the subject, I went on to watch her speech in full and was pleasantly surprised that she also addresses the concerns of entrepreneurs and offers ways to make it easier for them to start their own business.

She gave an example of a man who dreamt of owning a bowling alley he used to work in, but wasn’t able to because of student debts:

“If he can grow his business, he will be able to pay off his student debt and pay his employees, and pay himself too.”

Working with entrepreneurs on a constant basis, we understand the time and financial commitment it takes to create a successful business. How can entrepreneurs, outside of the booming tech sectors like Silicon Valley and SOMA, achieve their business dreams?

“Small businesses make up 60% of new American jobs, so they have to be a top priority… throughout this campaign, I’ll be talking about how we empower entrepreneurs with less red tape, easier access to capital, tax relief and simplification.”

Small businesses are a crucial part of the economy, so there needs to be more focus on fostering entrepreneurship, which has declined in cities outside of the Bay Area. Here at Near Me, we’re constantly brainstorming for opportunities to educate people and offer resources (check out our 8 Step Guide on Building a Successful Marketplace) that we take for granted in this booming tech town.

Here are some key questions Hillary brought up that we think are relevant to the growth of entrepreneurship:

  • How do we respond to technological change in a way that creates more good jobs than it displaces or destroys?

  • Since the sharing economy is here to stay, how can we shape it today to reap long-lasting economic benefits tomorrow?

  • What are the best ways to nurture startups outside of the successful corridors of Silicon Valley?

Questions like these deserve thoughtful debate from our policy makers who are looking to the sharing economy as an economic spark. There's a reason why many business owners opt to hire contractors. For instance, It costs about 50% more for a business to hire employees instead of contractors, which can stifle a company’s ability to make a profit or even stay afloat. It’s great that someone of Hillary’s stature is creating a dialogue, but if she’s promoting small business owners, shouldn’t she be adressing this fact as well?

Read source article HERE