Why Entrepreneurial Opportunity Should Be a Fundamental Right
Entrepreneurship is more than just starting a business—it’s about shaping lives, creating jobs, and driving innovation. But for too long, entrepreneurial opportunity has been overlooked in the American narrative.
As Victor Hwang, CEO of Right to Start, puts it, “Entrepreneurship lifts up ordinary people everywhere, but it’s often forgotten in civic life.” Hwang, with a rich background as a founder, investor, and advocate, understands the power of entrepreneurship on a personal level. His journey has led him to champion the cause of breaking down the barriers that hold back potential entrepreneurs.
The Vision of Right to Start
Founded in 2020, Right to Start is a national nonprofit dedicated to expanding entrepreneurial opportunity for all Americans. Hwang’s mission is clear: to make entrepreneurship a basic right, accessible to everyone regardless of background.
Through initiatives like cross-country road trips and meetings with policymakers, Hwang is pushing for systemic changes that will make it easier for people to start and grow their businesses. “We believe that entrepreneurial opportunity is a basic fundamental right. Everyone deserves equal access to build their own version of the American dream,” says Hwang.
Barriers to Entrepreneurship in the U.S.
Despite advances in technology making it easier to start a business, significant challenges remain. These include:
- Regulatory hurdles: Complex and often inconsistent regulations can stifle innovation.
- Access to capital: Many aspiring entrepreneurs struggle to secure the funding needed to launch their ventures.
- Healthcare access: The lack of affordable healthcare options can deter individuals from leaving stable jobs to pursue entrepreneurship.
- Workforce training and education: There’s a need for better training programs that equip entrepreneurs with the skills they need to succeed.
- Childcare and family support: For many, the lack of accessible childcare is a significant barrier to starting a business.
These challenges are compounded by the fact that government programs supporting small businesses and entrepreneurship are often sporadic and inconsistent.
The Role of Policymakers in Supporting Entrepreneurs
Hwang believes that policymakers have a crucial role to play in breaking down these barriers. He’s advocating for the creation of dedicated offices at the city, state, and national levels that focus on supporting entrepreneurs.
Since its inception, Right to Start has engaged with all 50 states, resulting in significant legislative progress. For instance, Missouri’s Right to Start Act, which comes into effect this month, establishes an Office of Entrepreneurship to support businesses with fewer than 10 employees. Nevada passed similar legislation last year.
These examples demonstrate the growing bipartisan support for Right to Start’s initiatives, proving that entrepreneurial opportunity is an issue that transcends political divides.
Why Entrepreneurial Opportunity Matters
Entrepreneurship is not just about economic growth—it’s about reducing inequality, creating wealth, and ensuring that the U.S. remains competitive on the global stage. As Hwang highlights, the lack of a safety net for entrepreneurs is a significant obstacle. Issues like capital access, healthcare access, and workforce training must be addressed if we are to unlock the full potential of entrepreneurial opportunity.
Hwang’s efforts to elevate the conversation around entrepreneurship are a reminder that supporting entrepreneurs is not just about economic policy—it’s about ensuring that everyone has the chance to pursue their version of the American dream.
The Future of Entrepreneurship in America
As Right to Start continues to advocate for systemic change, the future looks promising. With increasing support from policymakers and a growing recognition of the importance of entrepreneurship, there is hope that the barriers holding back entrepreneurs will be dismantled.
For those who believe in the power of entrepreneurial opportunity, now is the time to support initiatives like Right to Start. By working together, we can ensure that entrepreneurship becomes a fundamental right for all Americans.
Suggested Backlinks:
- entrepreneurial opportunity: Entrepreneurship Policy Digest
- Right to Start: Right to Start
- small businesses: Small Business Administration
- entrepreneurs: Ewing Marion Kauffman Foundation
- policymakers: National Conference of State Legislatures
