Entrepreneurship and the 2016 Election (Blog Post)
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| Entrepreneurship and the 2016 Election (Blog Post) | |
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Abstract
- After a powerful 60-40 victory over fellow Democratic nominee Bernie Sanders in Puerto Rico this past Monday, supplemented with an additional wave of support from super-delegates, CNN declared Hillary Clinton the presumptive nominee for the Democratic party. She now joins presumptive Republican nominee Donald Trump on still highly-contested and now highly predictable November 2016 presidential ballot. Over the course of the election, both presumptive candidates have remained, for the most part, silent and non-committal on the topics of small business and entrepreneurship policy.
- In light of this information deficit, growing concerns over the future of entrepreneurship have been amassing, as demonstrated at the Kauffman Foundation's 2016 State of Entrepreneurship Address. While specific candidate platforms have not been announced in regards to entrepreneurship, three of the main policy areas discussed in the election; Health Care, Immigration, and Economic Regulation, all directly relate to the prosperity of an American entrepreneurship ecosystem. Through an analysis of Clinton and Trump's statements in these three topic areas, a better understanding of the potential post-2016 futures of entrepreneurship may come to light.
- Health Care regulation, specifically the [Affordable Care Act|Patient Protection and Affordable Care Act], also known as "Obamacare," has been accused of "killing" small business. A 2012 Gallup poll of small business owners found that nearly half of small business owners point to potential healthcare costs (48%) and government regulations (46%) as reasons why they are NOT hiring new employees. In spite of this survey, the 2009-2015 head of the Congressional Budget Office, Douglas Elmendorf, and John Arensmeyer, founder and CEO of the Small Business Majority, have both released statements questioning any long-term negative affects of the Affordable Care Act and have even suggested that there will be benefits. Little conclusive evidence has been found one way or the other.
- Immigration has been highlighted by the Small Business & Entrepreneurship Council as a key issue in small business and entrepreneurship. The council cites a 2012 report from the [Small Business Administration] that reveals higher rates in business ownership, business formation, business exportation among the U.S. immigrant population as compared to the non-immigrant population.
