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Alabama’s Innovation and Entrepreneurship

May 10, 2013

InnovationRecently the US Chamber of Commerce released a study ranking Alabama 30th in the nation for it’s innovation and entrepreneurship.

Small business is a driving force of the economy, accounting historically for about 64% of net new jobs. New and young businesses have generated 40 million jobs in the past two decades, which is about 20% of total job creation. According to the Kaufman Foundation, 76% of high-growth firms are young businesses, and these gazelles generate 88 new jobs a year compared with an average 2 to 3 jobs among all businesses.

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