The Good Economist 7
only need to provide unaudited financial statements to potential investors. A concession on audited financials is important because there is a considerable cost to providing audited statements.
Greater availability of small business capital is particularly important for minorities and women, where the lack of access to capital and capital formation is a primary barrier to business ownership. Research shows both groups are significantly underrepresented in access to capital to start and fund entrepreneurial enterprises. While 11 percent of Americans are African-American, only 1 percent of the founders of companies backed by venture capital identify as African-American. And other groups, including Hispanic populations, receive so little funding that it is difficult to quantify. Findings among women are better but still indicate disproportionately low representation. In 2011, only 11 percent of capital-investment funds went to women entrepreneurs despite accounting for 20 percent of the top entrepreneurs, according to the Center for American Progress.
need to know about this emerging policy
For small businesses, where employees often work long hours and are earning more than $455 per week, the proposed rule could be significant. If multiple employees are routinely working beyond normal work hours, overtime pay could reasonably increase personnel expenses.
New Report on Clean Jobs in PA
To better understand how clean energy is creating jobs in the Keystone State and to
examine what policies are needed now to support future job growth, Clean Jobs
Pennsylvania analyzes the size and scope of the state’s clean energy economy.
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Read the complete report here.