Senator’s Tim Scott (R-SC) and Amy Klobuchar (D-MN) launched a bi-partisan caucus to spur American entrepreneurship. Senator Scott’s work related to entrepreneurship most notably is Opportunity Zones, a capital gains tax incentive for investors seeking investments in distressed communities throughout the United States. Senator Klobuchar is outspoken on improving the business landscape for American farmers and anti-trust.
The caucus is supported by a number of entrepreneurial support organizations. Below is a brief overview of these organizations and their work to support entrepreneurship and small business in the United States.
The Center for American Entrepreneurship: The CfAE is an educational and awareness building nonprofit for local, State, and Federal Governments. Key issues include restoring the R&D Tax Credit to the most favorable in the world, restoring Government R&D to a historical high, geographic venture capital concentration, and streamlining technology transfer and commercialization of Government-Funded Innovation.
Economic Innovation Group: The Economic Innovation Group was behind Opportunity Zones. Their focus includes geographic wealth inequality and the role of capital in small to mid-size cities. A recent policy issue explores the abuse of non-compete agreements by employers.
The U.S.Chamber of Commerce: The U.S. Chamber of Commerce’s interest areas related to entrepreneurship include capital markets, Native American entrepreneurship, global Intellectual Property and innovation, and regulatory issues related to starting a business. The Chamber’s Center for Capital Markets explores FinTech Innovation and capital as a means to catalzye business creation.
Small Business Majority: The Small Business Majority advocates for inclusive entrepreneurship. Policy areas include access to capital, healthcare, entrepreneurship and freelance, and workforce skills.
The Kauffman Foundation: The Ewing Marion Kauffman Foundation is an entrepreneurial policymaker and funder. The Foundation maintains numerous research databases on various types of entrepreneurship including Main Street and scalable tech entrepreneurship. The organization supports ecosystem building efforts at the local level.
The National Federation of Independent Businesses: The NFIB’s policy agenda includes the implications of tax reform on small business, health care access for small businesses, regulatory reform, the labor agenda’s impact on small business, and how small business generates economic growth.
Main Street Alliance: Main Street Alliance has affiliate organizations in seventeen States across the United States. The Alliance is a coalition of small business owners that work across traditional issues impacting small business such as finance, taxes, and health care, as well as other political issues such as money in politics.
The Small Business and Entrepreneurship Council: The SBE Council was behind the Jumpstart Our Business Start-UpAct of 2012 that allowed non-accredited investors to make equity investors into startup firms. The Council also worked on banning the Internet access tax and works closely on telecommunications policy.
Small Business Investor Alliance: The SBIA’s policy areas include regulatory and tax issues that promote domestic investment into
The American Investment Council: The AIC conducts research and advocacy for private equity. Research includes private equity industry analyses. The AIC is working to lower reporting barriers for firms raising under the JOBS Act. Legislative priorities include reforming the Committee on Foreign Investment that reviews foreign investments that could pose a national security threat to the UnitedStates.
The National Venture Capital Association: The NVCA focuses on issues such as immigration, patent reform, technology transfer, healthcare innovation, and auditing standards. Additionally, the organization publishes annual reports about VC activity to include investment volume and deal-flow.