# Plain Language Summary: Enhancing Entrepreneurship for the 21st Century Act

This bill asks the Secretary of Commerce to investigate why fewer new businesses are being started in America compared to the past. The government has noticed that the rate of new business formation has dropped significantly across all 50 states and most major cities, and Congress wants to understand why this is happening and what might be causing it.

The Secretary of Commerce will have two years to study this problem by looking at data from various government agencies like the Census Bureau, the Small Business Administration, and the Federal Reserve. The investigation will examine several possible reasons for the decline, including an aging population, big companies making it harder for startups to compete, people being more cautious about taking risks after the 2008 financial crisis, difficulty getting funding (especially for women and minority entrepreneurs), high student debt levels, and problems with turning government-funded research into actual businesses. The Secretary will also look at whether tax laws, regulations, and immigration policies are affecting entrepreneurship.

The bill requires the Secretary to talk to government officials, actual entrepreneurs (particularly successful women and minority business owners), and advocacy groups to get their perspectives. Once the investigation is complete, the Secretary must report back to Congress with findings and recommendations. Importantly, any sensitive business data collected during this study will be kept confidential and protected the same way it would be by the original agencies that collected it. This bill doesn't create any new programs or funding—it's purely a fact-finding mission to help policymakers understand what's happening with American entrepreneurship so they can make better decisions in the future.

Enhancing Entrepreneurship for the 21st Century Act

Hill, J. French

Enhancing Entrepreneurship for the 21st Century Act This bill requires the Department&nbsp;of Commerce to conduct an assessment and analysis of the reasons underlying the decreasing rate of formation of new businesses (i.e., startups) in the United States.