>Exploring America’s Entrepreneurial Edge
by Free Enterprise
https://www.freeenterprise.com/entrepreneur/exploring-america%E2%80%99s-entrepreneurial-edge
BBC News has launched a new series talking to entrepreneurs around the world. In its first installment, the news outlet spoke to three American entrepreneurs about their successes and challenges, asking the question, “What are the reasons behind America’s continuing entrepreneurial success—and can they be copied?”
Interviews with Smashburger founder Tom Ryan, Lean Startup author Eric Ries, and London-based entrepreneur Julie Meyer, reveal three reasons the U.S. has an entrepreneurial edge over many European nations.
Cultural acceptance of risk: Ries observes that failure is “almost seen as a useful experience” and that one of the key cultural factors in America’s favor is “a willingness to tolerate failure. Add to that European countries’ high personal liability levels for entrepreneurs and it starts to become clear why the U.S. has an advantage.
Financing and tax policy: Access to capital and uncertainty over tax policy are two of the repeated challenges U.S. entrepreneurs cite. Those issues aren’t unique to American soil; in fact, Meyer suggests U.K. policies lag even further behind. She says, “The U.K. government needs to cut taxes for small firms to help spur growth and act as an incentive.”
Smaller government: According to Meyer, European countries have discouraged entrepreneurship by providing too much government assistance, but that may be all about to change. “Governments need to be much smaller, with more focus on individuals,” Meyer says. “And we are now heading in that direction, because European governments suddenly realize they cannot afford to be so large.”
https://www.freeenterprise.com/entrepreneur/exploring-america%E2%80%99s-entrepreneurial-edge