Institute for Justice’s Post

The number of small businesses in the UK dropped to 5.5 million in 2023, compared to 5.9 million just three years ago. What’s deterring entrepreneurs from setting up shop in the UK? Entrepreneurship isn’t being championed enough, especially compared to countries like the US. Taxes are high, support is low. So how can we blame them? There is a cultural shift that needs to happen in order to provide greater incentive for new business leaders, and a different approach is required for both taxation and regulation of these businesses. Huge potential exists in the UK for regaining its position as a leading entrepreneurial hub, but so does a need for change. Check out my full insight, recently featured in Director of Finance: https://lnkd.in/enww9M5m

Ahead of the autumn statement later today, we're urging the Government to amp up support for entrepreneurs braving the economic downturn. Check out our CEO's perspective on the vital need to nurture and protect the incredible small businesses that are the heart of Britain 🇬🇧 https://lnkd.in/eADuwRuX #autumnstatement #smallbusiness

I have been writing and talking about this issue years and saying the same thing all the time. The Canadian government has been rolling out more and more programs to try to make things better. However, as I keep saying, results have just been getting worse and worse. My advice to the government government: - Stop listening to your high priced consultants, who get paid no matter the result. - Stop listening to academics, who know little about business. - Stop listening to big business, who know little about entrepreneurship. - Stop listening to VCs, who know how to sell their shares, not creat successful businesses. - Stop even listening to the well connected entrepreneurs, who know they can get the handouts. Government: Just stop what you are doing. Stop the IRAP program, which is mainly a bureaucrat employment program. Stop all the “Super cluster….s” which have demonstrated only their ability to swallow taxpayer money. Stop making indirect investments from “professional VCs” or others in companies. Stop grants. Stop choosing winners. Stop.

Soooo... where does #Florida rank as a best and worst state for entrepreneurs? The #SunshineState Ranks in the Top Three 👍 Best States with strong job creation and educated worker mobility adult ages 25+! Check out the 2024 report by Simplify at: https://lnkd.in/e97Eiv_R

It's concerning to see the average age of small business owners rise by 5 years in less than two decades. Perhaps it has become riskier to run your own business? Is the entrepreneurial spirit we fostered in this country disappearing? We need to create a culture where young people are prepared to have a go and where failing is not frowned upon. SME's employ a significant number of Australians hence it is also critical to the employment rate that people are encouraged to start their own businesses. #entrepreneurship https://lnkd.in/genaPDag #entrepreneurship

In our study published in July, we provide evidence that older entrepreneurs have a lot to offer. Our findings show that those who start businesses later in life (50 years old and above) are more likely to bring radical innovations to the market than younger business owners. These novel products and services are of great benefit to the economy. This means that skills and experiences of older entrepreneurs are highly valuable.

This week on the blog Richard Maize examines how to navigate economic uncertainty for new entrepreneurs https://lnkd.in/g2ufxzvv

A survey shows Canadian small business owners remain optimistic about the future despite cash flow concerns. Learn how they're taking on inflation, managing prices, and leveraging technology to adapt to economic conditions. Read more at https://lnkd.in/g8X3yt2k #FranNet #SmallBusiness #Entrepreneurship

Prioritizing tax incentives over investing in city amenities may be putting the cart before the horse when it comes to attracting new businesses. “Entrepreneurs don’t choose places to start companies. Entrepreneurs choose places to live, and then start companies where they live,” CEO Christopher Wink writes. In other words, investing in better cities is key to fostering innovation. https://lnkd.in/gKtDqkKu #TaxIncentive #BusinessAttraction #InnovationEcosystem

2023 seems like it was another excellent year for new entrepreneurs to start their businesses - learn more in this INC article: