What can government do to encourage entrepreneurship?
Indiana Gov. Mitch Daniels listed a few examples Tuesday during a talk at the University of Notre Dame’s Mendoza College of Business.
During his administration, he said, the state has streamlined its permitting processes - “time is money” - and improved tax credits for research and development, new patents and assembling venture capital. Legislators also have lowered taxes and cut regulations, he said, with the goal of making it as affordable as possible for businesses to employ Hoosiers.
In other words, what government can do to encourage entrepreneurship is minimize the obstacles that stand in the way of innovators.
“The person who makes that breakthrough of innovation is the one who transforms our lives and generally improves them,” Daniels told the audience, which consisted mostly of students. “We need more of those people.”
He said the recent death of Apple co-founder Steve Jobs, though sad, highlighted “the incredible effect that one person like that can have on the lives of others.”
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