Strom on the Value of Academic Entrepreneurship Research

Kauffman Research and Policy Director (and former MU economics professor) Bob Strom on the value of academic entrepreneurship research for public policy:

While the influence of academia on public policy is not often observed directly, academics studying entrepreneurship contribute practical information and real insights that shape and support policy discussions. At the most basic level, university research on entrepreneurship deepens policymakers’ understanding of the phenomenon and its importance, giving them the information they need to consider the effects of proposed legislation and existing policies on entrepreneurial activity.

Economists at universities, for example, have highlighted for policymakers the role of new businesses in job creation and economic growth; identified obstacles to new business creation; elucidated the economic and institutional environments in which entrepreneurship flourishes; and pointed to some unintended consequences of existing legislation for entrepreneurs.

But the academic influence on entrepreneurship policy goes beyond analysis and writing. Academics also are deeply involved in improving the sources of data for the study of entrepreneurship. In addition to finding flaws in government data collection and calling for better data collection efforts at the federal level, academics have played important roles in creating independent surveys of new businesses that will allow for more robust databases.

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