What Barriers Do Entrepreneurs Face?

The U.S. Small Business Administration (SBA) recently travelled around the country and talked to more than 1,000 entrepreneurs, investors and others who want to play a role in building the next great American companies. They asked the aspiring entrepreneurs in the group about the barriers that they faced in starting a business. The responses that they most often provided fell into five categories:

  • People:  The difficulties they face in attracting and retaining high quality workers who are committed to their jobs and to quality;
  • Money:  The continuing challenges that startups and high-growth firms face in accessing the capital they need to create jobs;
  • Ideas:  The need to transform more of America’s discoveries and breakthroughs into commercial successes;
  • Customers:  The importance of making it possible for smaller firms to compete for customers in all sectors and abroad; and
  • Lean Government:  The importance of making it faster, simpler and easier for aspiring small businesses to navigate the regulatory waters surrounding entrepreneurship in the U.S.

A summary of their great ideas is in the SBA’s new report, Startup America: Reducing Barriers. You can also read a summary on the SBA blog HERE.

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