Entrepreneurship In States: Fostering A Startup-Friendly Economy

States are increasingly devoting more attention to an important, if sometimes overlooked, tool for economic development: fostering entrepreneurship. Governors can help revitalize regional economies through strategies that allow entrepreneurs to bring products and services to market.

Entrepreneurship can help overcome economic challenges—from growing global competition to lagging rural areas—as well as vocational barriers. There is an opportunity to spark entrepreneurship in young adults who are disconnected from the workforce, in mid-career adults and retirees seeking new opportunities, and in parents who desire flexible employment options.

Governors can play essential roles by setting a vision and helping others understand the need for a long-term approach. Governors’ approaches to messaging include touting their states’ entrepreneurial attributes and championing entrepreneurs through social media. They also issue challenges, awards and proclamations, such as for their state’s Entrepreneurship Week.