New jobs are important and that can have an impact on opportunity. Some have argued we have become very top heavy with large corporations and not enough entrepreneurship in the working and middle classes. Large corporations are great for global penetration but they also run the risk of stifling innovation in the long run if new ideas are muted in corporate processes.
Small business often impacts mid and long term growth as owners implement new ideas in their nimble businesses. That then can lead to whole new areas of development. Some of these businesses will become larger corporations down the road.
One might also wonder about the benefits of small business on towns like Escanaba. Because small businesses fits well with small towns stronger local, state and federal policies that encourage redevelopment of downtowns to improve quality of life and local wealth retention will be helpful.
With any luck we will likely see these new business start kicking in to create higher GDP in the next few years. Some impact of this post Covid entrepreneurship can be seen already. The U.S. should have a pro growth mix of small, medium, and large businesses.
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