Update on Startup America

 

Back in February I wrote about the new initiative President Obama, Steve Case, and Carl Schramm announced to try to jump start the process of new business creation: the Startup America Partnership. since it is now near the end of April, it seemed like a good time to check back and see just what has happened and if there have been any results so far.

Microsoft, Google, HP, and other major companies [have] committed to providing over $400 million in support and resources to the Partnership

One of the first moves the Partnership made was to appoint Scott Case, cofounder of Priceline.com, as CEO. Scott Case has since been traveling around the country speaking with various industry leaders about the project. This could be a good move for the organization, as Case has a reputation for getting things done both as an entrepreneur and more recently in his work with the organization Malaria No More.

A bigger announcement came this week with the news that Microsoft, Google, HP, and other major companies had committed to providing over $400 million in support and resources to the Partnership. This will include discounts on products from HP, training and mentoring by the likes of Cisco and Ernst & Young, and advertising on Google. The Partnership also added several nonprofit companies, including Angel Capital Association and The National Venture Capital Association.

Startup America has also retooled its website to make it more useful for entrepreneurs to access information. The site now leads with the question “Which Stage Are You In?” and provides choices from Idea to Speedup, depending on the answer. The Partnership is also providing a variety of events, including talks, workshops and seminars for business owners. Finally, the site encourages visitors to share their stories and questions and to join a Twitter feed.

While all of this is helpful, and no doubt some businesses will find success through the Partnership, there are many issues still facing small businesses that have not been addressed here. The uncertainty of tax rates and Obama’s pledge to end what he considers a “giveaway” to the rich - the very people who create jobs and, might I add, a category he falls into as well - will cause many business owners to hold off on growth and expansion. Why set yourself up to pay even higher taxes for success? Also looming over the economy are the myriad effects of Obamacare - some of which we still are unsure of the extent. Yes, Nancy, Congress voted for it but we still don’t know all that’s in it.

If you have gotten involved with any of the elements of Startup America, I would like to hear from you. Has it been a positive experience, negative, neutral, or yet to be seen? And if you are a business owner who is ready to grow and you need some advice on funding, please contact me. I have over 30 years of experience working in the industry and have helped over 2500 companies in that time. There are very few questions that I have not heard already.

Craig G. Francis is the owner of Francis Financial and The SBA Loan Store. He has been a top producer of SBA Loans since 1981, and has worked with Dun & Bradstreet and Bank of Commerce. Craig Francis has the expertise to steer clients through the often confusing rules and regulations associated with SBA Loans, having helped over 2,000 businesses acquire over a billion dollars in loans. He can be contacted through CraigGFrancis.com, SBALoanStore.com, on LinkedIn, or at 888-666-9722.