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New business formation is at the center of economic recovery

Business attorneys in Oregon often encounter new companies being formed through the means of venture capital investments funding just for innovative startup companies. The founders of most startups also take on a degree of risk as do all business owners. Business formation in this context often involves the participation of a business law attorney who is experienced and adept in working with entrepreneurial ventures.

In 2018, surveys indicate that the rate of entrepreneurship is at one of its highest levels of growth. In fact, a review of data sources by Paychex reveals that entrepreneurship was a strong factor in fueling the economy's growth out of the recession. New business formation by entrepreneurs is viewed as a powerful force in creating jobs and fueling the economy.

The report concludes that 79 percent of business owners today would recommend starting a business at this time. However, rising costs and hiring in a tightening labor market remain top concerns of business owners. Generally, business owners look to government to provide needed incentives and resources to stimulate entrepreneurial ventures. Some business owners would like to see the government provide more support for new businesses, including coaching, mentoring and reducing regulations.

It is clear that the business climate in the country, including here in Oregon, is highly positive right now for the potential of success in new business formation. Funding by investors and venture capitalists is continually available and it stimulates growth in new startups. It is a time of creative growth and the harnessing of technology to many innovations that are being provided by new business ventures. Oregon is in the forefront of this growth and the state provides its fair share of supportive resources to join in stimulating the growth of entrepreneurial ventures.

Source: cpapracticeadvisor.com, "Entrepreneurship Increases as Business Optimism Grows", Isaac M. O'Bannon, May 11, 2018

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