04.07.19

CAO Commends Announcement of the New Bipartisan Senate Entrepreneurial Caucus by U.S. Senators Tim Scott and Amy Klobuchar

WASHINGTON, DC — The Center for Advancing Opportunity Commends Announcement of the New Bipartisan Senate Entrepreneurial Caucus by U.S. Senators Tim Scott and Amy Klobuchar.

The Center for Advancing Opportunity (CAO) commends the formation of the new Bipartisan Senate Entrepreneurial Caucus Co-chaired by U.S. Senators Tim Scott (R-SC) and Amy Klobuchar (D-MN). This caucus will serve as a clearinghouse for ideas and best practices federal policymakers can use to address the “start-up” slump which is near a 30-year low.

In a strong showing of bipartisan support, U.S. Senators Roy Blunt (R-MO), Chris Coons (D-DE), Joni Ernst (R-IA), Lindsey Graham (R-SC), Maggie Hassan (D-NH), John Hoeven (R-ND), James Inhofe (R-OK), Doug Jones (D-AL), Jerry Moran (R-KS), Gary Peters (D-MI), David Perdue (R-GA), and Kyrsten Sinema (D-AZ joined in an orchestrated effort to stimulate entrepreneurial endeavors throughout the United States.

“Entrepreneurship is important to job creation and economic self-sufficiency for millions of small business owners and employees” said Gerard Robinson, executive director of CAO. “This new caucus will serve as a galvanizing force within the 116th Congress to kick-start the start-up marketplace and CAO looks forward to working with the Senate Entrepreneurial Caucus to find solutions and ways to support our nation’s entrepreneurs, especially from fragile communities and Historically Black Colleges and Universities (HCBUs).”

For families living in fragile communities in the United States, which CAO defines in its State of Opportunity in American Report (2018) as “communities that are characterized by high proportions of residents struggling in their daily lives and possessing limited opportunities for social mobility,” barriers to entrepreneurship are real. According to 6,230 people surveyed in 49 states and the District of Columbia, the lack of access to capital, lack of requisite skill sets to start a business, and poor economic conditions at the local level are among the biggest obstacles to entrepreneurship.

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