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According to Gallup, the United States now ranks 12th in the world in business startup activity. Italy, one of the weaker countries in the Eurozone, has a higher rate of business startups than the US. This isn’t a statistical quirk. Entrepreneurship, the special sauce that launches new business, is in steep decline here for the first time ever.
“When small and medium-sized businesses are dying faster than they’re being born, so is free enterprise,” writes Jim Clifton, Chairman and CEO of Gallup. “And when free enterprise dies, America dies with it.”