Pacific Research Institute Report: Entrepreneurship as a Pathway to the American Dream
Government-created barriers to opportunity are standing in the way of immigrants and low-income entrepreneurs launching a startup and accessing credit and capital to grow their business and hire more workers.
The average incomes of the lowest-earning families improved during the periods when the policy environment was supportive of economic growth and entrepreneurship, and stagnated during the periods when the environment was less supportive of economic growth and entrepreneurship.
The entrepreneurship part of this connection is important to emphasize. Fostering an environment that supports entrepreneurship is essential for raising the financial well-being of the families with the lowest incomes.
Vibrant entrepreneurial sectors benefit the lowest income households both directly and indirectly. The entrepreneurial economy directly benefits low-income families by creating a valuable pathway for these families to obtain a more prosperous future. It indirectly benefits low-income families by promoting an economic environment that creates more job opportunities, increases overall wages, and expands the affordability of goods and services.