A job creation roadmap

3/23/2012 - Andrew Razeghi believes that small-business owners and entrepreneurs are economic engines for the country, creating jobs and wealth.

On Wednesday, March 21, Razeghi, a lecturer on marketing at the Kellogg School, testified before the U.S. House Committee on Small Business and explained how the government can foster and support high-potential entrepreneurs.

In his testimony, Razeghi pinpointed three areas in which the government can help entrepreneurs.

Talent. Create “talent incubators” through which the government can train people to become skilled laborers in high-growth industries such as technology. Razeghi cited the example of Israel, whose military personnel are trained to write HTML code.

Incentives. Set up incentives that would reduce the cost for college graduates to start businesses, such as offering credit against a person’s student loans.

Mentoring. In the same vein as the Peace Corps, launch a “Start-up Corps for America.” Create other distinct programs as well: one for self-employed small-business owners, and the other for high-potential entrepreneurs. These programs could provide services such as reduced cost services and facilities, talent scouting, recruiting, proof of concept opportunities and capital.

"This deliberate and focused effort on high-potential entrepreneurs would help the United States remain competitive, economically stable, and growth-oriented in a world where success is measured not by speed, but by velocity,” Razeghi testified. “We must not only move quickly, but in the right direction."

Download Andrew Razeghi’s full testimony to the U.S. House Committee on Small Business