Minnesotans lag in new business starts, Kauffman index finds
This article from the Minneapolis Star Tribune highlights the State of Minnesota as having created the least amount of new businesses in the U.S. as compared to any other state in 2012.
Why is Minnesota in this position? Some point to the strengthening economy and improvements in the job sector as giving people less reason to become an entrepreneur. However, we believe the real challenge in the State of Minnesota is the presence of significant administrative hurdles to starting businesses.
What Minnesota needs to do is make it easier to start your own business. Make things simpler for entrepreneurs.
Government should direct its focus towards deregulation to make it easier for individuals to start small businesses rather than focusing on big business and large development projects. By providing entrepreneurs with easy micro loans and the right infrastructure to support business needs, Minnesota would have much more success in small business creation.