Abstract
Given the volatile economic climate faced in the United States and globally since 2015, there is a desire by politicians in 2016 to increase state economic and business growth. As small businesses are the main driver of business growth in state economies, focus is placed upon the policy environment of a state to encourage state level growth in entrepreneurial activities aimed at small business creation and survival.The Small Business and Entrepreneurship Council an advocacy and research organization dedicated to protecting small business and promoting entrepreneurship has annually prepared a “Small Business Policy Index” that ranks states according to some of the major government-imposed or government-related costs affecting investment, entrepreneurship and business. This study presents updated results to 2016 from an original 2013 analysis of the rankings of states on the Small Business Policy Index (SBPI) from 2000 to 2016 that focuses upon three categories of states: overall ranking gainer states, those states that are stable in ranking, and overall ranking decliner states, the percentage in each category, and conclusions. The paper also includes a rank correlation analysis of periods of time to measure the extent of traction and mobility in the SBPI state rankings. As states vary by governor length of years in their governor term and also by term limits or not on governor terms allowed there is an analysis of impact of governor years of term on changes in SBPI ranking and an analysis of impact of governor term limits on changes in SBPI ranking.
Highlights
G iven the volatile economic climate faced domestically in the United States and globally since 2015, there is a desire by politicians in 2016 to increase s tate economic and business growth
As states vary by governor length of years in the ir governor term and by term limits or not on governor terms allowed there is an analysis of impact of governor years of term on changes in Small Business Policy Index (SBPI) ranking and an analysis of impact of governor term limits on changes in SBPI ranking
Given the fact that small businesses are the main driver of business growth in state economies, focus should be placed upon the policy environment of a state to encourage state level growth in entrepreneurial activities aimed at small business creation and small business survival
Summary
G iven the volatile economic climate faced domestically in the United States and globally since 2015, there is a desire by politicians in 2016 to increase s tate economic and business growth. State politicians often claim that they are in favor of change, reform, and in helping to stimulate business and entrepreneurship growth once elected. If such political efforts were effective at the state level, one would expect that a state should improve in its ranking on rankings that examine state level small business supportive policy levels over various extended periods of time.
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