By: Bianca Buliga, Content Curator Intern, and Jenna Fitzgerald, Market Analysis Intern Our Current State This may come as a surprise to some of you but the sad truth is that competition, especially within the business world, is diminishing in America. The question of this century is… How can we eliminate barriers to reignite competition and innovation in today’s marketplace? Recently, I came across an interesting article published by the Ewing Marion Kauffman Foundation titled “A Fair Fight: Entrepreneurship Competition Policy”. Based out of Kansas City, Missouri, the Kauffman Foundation is one of the largest private and nonpartisan foundations that aims to foster economic independence by advancing education achievement and entrepreneurial success. SEED SPOT is one of several beneficiaries supported by the Kauffman Foundation, having been selected as one of eight best-in-class support organizations nationwide in October of 2015. To best support our local entrepreneurs, we strive to understand how competition spurs progress and innovation by injecting new ideas, products, and services into local industries. But above all, we strive to ensure a barrier-free marketplace where their businesses can thrive. This article by Jason Wiens and Chris Jackson caught my attention by simply and articulately addressing how a lack of competition is hindering our nation’s economic potential, and what can be done to bolster the creation of new jobs and firms. Continue reading to delve into the article’s main takeaways! Barriers to Entering the Labor Market Oftentimes, a market with waning competitions sees firm births and deaths occurring at the same…
Read More: Stepping Our Game Up: America’s Path to Innovation
