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A Level Playing Field for All

Posted on by Beth Wallace

I read an article recently about America’s New Business Plan which was posted by a grassroots bipartisan initiative called Start Us Up.  The article calls upon both national and state policy makers to consider the following when making decisions on business regulations and the necessity of supporting the small business community and creating a level playing field for all  - an idea that resonates with me and is similarly viewed by many of the resource partners in Connecticut.

In brief there are four pillars:

  1. Level playing field and less red tape (opportunity)
    1. Support existing and new local businesses (ecosystems) and not just offer incentives to attract outside business
    2. Cut the regulatory red tape
  2. Equal access to the right kind of capital nationally (funding)
    1. Innovative models
    2. Serve communities with lack of access and underserved populations
  3. The know-how to start a business
    1. Support policies connecting entrepreneurs to other experienced entrepreneurs
    2. Teach entrepreneurs and future employees the skills they need. i.e. communication, problem solving, decision making and the like
  4. The ability for all to take risks (support)
    1. Addressing financial stability if citizens/entrepreneurs in order to take the risks of entrepreneurship and accessing opportunities

For as long as I have been in economic development (25 years and counting), Connecticut’s policy makers have and continue to support the business community - large and small, across industry sectors, and socioeconomic position.  You may disagree with me on this fact, but the truth of the matter is that the framework is in place and from what I can see, our present government is striving to do more to incorporate the pillars into the government response (programs/resources, business friendly legislation streamlining the regulatory process and more) to the needs of the entrepreneurial ecosystem.  

And, believe it or not, think about this fact, Connecticut already offers legislation and programs/resources that support and provide solutions to satisfy each of the pillars.  The key is to work collaboratively across the government and private sector so that legislation/policies and programs/resources continue to support and enhance a thriving ecosystem.

A great example of such efforts is the resurrection of the concept of the online One Stop Business Registry offering a business-friendly, streamlined and customized experience through the business licensing and registration process.  AdvanceCT is a proud partner with the State of Connecticut to see this initiative to fruition.  Stay tuned.