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Should You Support Nat'l Entrepreneurs' Day (HR 401)?

By Daniel Taylor, Esq. | Last updated on

After a Twitter petition successfully convinced President Obama to declare a National Entrepreneurs' Day in 2010, a group of entrepreneurs has now set their sights on Congress.

House Resolution 401, sponsored by Rep. Scott Peters (D-California), would support the designation of the third Tuesday of November as National Entrepreneurs' Day.

Besides just being a mouthful to say, what would a National Entrepreneurs' Day do to actually benefit entrepreneurs and other small business owners?

Who's Behind Nat'l Entrepreneurs' Day?

The group of entrepreneurs behind the push for National Entrepreneurs' Day includes David Hauser and Siamak Taghoddos, co-founders of the phone service Grasshopper, as well as Legacy Foundation founder Amir Tehrani. The three men were part of a group who had previously worked with the White House on its Startup America initiative.

The resolution has an impressive lineup of supporters already, including multibillion-dollar charitable group The Kaufmann Foundation as well as 50 Congressional co-sponsors from both sides of the political aisle.

Better Off NED?

The bill's co-sponsors aren't exactly putting their necks on the line, though. Those hoping for another three-day weekend on the calendar are out of luck -- the resolution itself is nothing more than a public backslap for entrepreneurship in general.

It does, however, recite some fairly impressive statistics regarding entrepreneurship in America, such as:

  • More than half-a-million new businesses are created in the United States every month.
  • Small business openings have accounted for 40 percent of new jobs in the last two decades.
  • 82 percent of entrepreneurs in 2012 used their own savings for startup cash.
  • More than 70 percent of young Americans envision starting a business or doing something entrepreneurial as adults.

The group behind National Entrepreneurs' Day hopes the resolution will "honor the risk-taking of entrepreneurs and recognize their considerable contributions to the economic growth of the United States." The group has posted the resolution for voting on engagement platform VoteTocracy.

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