Business and Economy
Innovation Partnership for Small Business Success in Pennsylvania
How Pennsylvania government and partners lead small business innovations and investments
Introduction and Context
Small business is a critical success factor for the US economy. According to the Office of Advocacy, small businesses generate 44% of U.S. economic activity.
In addition, the news release mentions that small businesses are the lifeblood of the US economy because they create two-thirds of net new jobs and drive US innovation and competitiveness. As the report points out this is a significant contribution. However, this overall share has declined gradually.
Despite all, some states make good progress. For example, Pennsylvania is a state which puts great emphasis on small businesses.
In this article, I provide a few highlights from this exemplary state on how small businesses get the focus of government and their business partners. The inspiration for the state comes from William Penn who established Pennsylvania’s founding principles of freedom, tolerance, and innovation.
As you might have seen in the recent news, Governor Tom Wolf announced a $97 million…
