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THE IMPORTANCE OF STARTUPS

Potente, Business Lawyer and Company Formation

“The private sector economy has a life blood, and it is startups.” –James Rosebush, Business Insider

These powerful words, written by James Rosebush from Business Insider, correctly encompass the private sector’s growing need for new and flourishing companies. Rosebush expresses the private sector’s deep need for innovation and ideas, but more importantly, the conversion of these ideas into productive companies. These companies will not only provide jobs to sustain the private sector, but to expand it as well.

The beauty of small businesses and startups are the wide array of ideas. Rosebush references ideas ranging anywhere from clean energy alternatives to combatting motion sickness, but it does not matter what innovators come up with—all ideas matter, and their creators should strive to convert them into a profit-making, job-offering machine.

Not only do startups cover various topics and areas, they also demonstrate creativity. We must encourage each other to manifest our inventiveness and make our ideas a reality. In turn, our originality will stimulate others’ ingenuity. Once we create something, others generate ideas from our model – or better yet, they develop an enhanced process, machine, product, etc. Startups not only encourage originality, but an efficient and thriving economy.

Startups are so integral to our economy’s success that we should encourage each other to make our ideas realities. No one should ever feel discouraged due to the challenges associated with starting one’s own company. Rosebush suggests three solutions to facilitate the process:

1. Praise and cultivate a creative culture

People are most imaginative at their early stages of life, and Rosebush argues every school “should have a robotics program, rigorous science and math programs, and a business incubator.” Through such programs, we can easily show kids the importance of inventiveness.

2. Community banks to invest in startups

Rosebush argues this has to be a community effort—after all, these startups will be the life blood of our economy. If every community can gather funding for innovators, it will not only show solidarity in the startup movement, but it will be an incentive for those individuals who fear the challenges of startups.

3. Government changes

The government can also help encourage startups by lessening the requirements needed to start a business. People won’t fear the difficulties of starting their own business if they feel the government is on their side.

Startups are the economy’s life blood. We as a nation should do what we can do ensure these brilliant innovators do not fear their efforts will be wasted. We need to create a culture to not only let ideas flourish, but provide a means of converting ideas into successful companies.

Here at Potente, the majority of our clients consist of small business owners. It is our passion and privilege to offer our assistance, guidance, and advice to the “life blood” of the economy that will take us places we can only imagine. Keep the innovation coming!

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