It’s time to face facts, the U.S. economy is not delivering the growth or opportunity that American workers and families deserve. October’s job report tells us that only 12,000 jobs were added nationwide. This means stagnation, pure and simple. Over the last 12 months, tech employment, a sector once hailed as the growth engine of the future, mustered a net gain of just 16,000 jobs. The big picture is even more sobering. From March 2023 to March 2024, while the nation created 1.39 million new jobs, a staggering 2.13 million positions were shed by established businesses. If not for new businesses, we would be looking at a landscape of lost livelihoods and declining communities.

Here’s the startling reality: For over 30 years, existing businesses have cut jobs nearly every single year. Without the constant churn of new startups, without that unstoppable force of entrepreneurial drive, our economy would be circling the drain. Let’s be blunt, if we ignore the lifeline that entrepreneurship provides, we’re dooming ourselves to slow decline. And yet, in the midst of this job loss, there’s a blueprint for hope.

Entrepreneurship is more than a buzzword. It’s the economic engine that creates jobs, stimulates innovation, and injects vitality into communities. At the heart of America’s economic resilience are the new businesses that take risks, innovate and drive growth. These aren’t just tech startups or Silicon Valley dreams. They’re local businesses, small manufacturers, service providers, and food entrepreneurs who set up shop in communities across the country and within our communities.

Startups are where real job creation happens. New businesses, those less than a year old, generated 3.5 million jobs in the last year alone. That’s more than double the losses cut by older businesses. But here’s the thing about startups, they need support at every phase of their journey, from launch to stabilization, through growth and scaling, and even in planning for a successful exit. That’s where business development organizations like the Business Incubator Center, Startup Colorado, Energize Colorado and Innosphere Ventures come in. It’s not just about helping businesses get off the ground, but rather provide the guidance, resources, and networks needed at each critical stage. At launch, offering the tools to turn an idea into a viable business. In the stabilization phase, helping entrepreneurs navigate the challenges of sustaining operations. As businesses grow, connecting them to mentorship, funding and strategic advice, so they’re ready to scale successfully. And when it’s time to exit, ensuring they’re positioned to leave a legacy, whether that means succession, sale, employee ownership or expansion to new markets. It’s about building sustainable, thriving enterprises that become pillars of our community.

Entrepreneurship doesn’t happen in isolation. It needs an ecosystem, one that includes access to mentors, funding, training, and strategic connections. Organizations like the Business Incubator Center understand that an entrepreneurial ecosystem isn’t just a series of buzzwords. It’s a community-led development model that invests in people, skills and the stability needed for long-term growth. We’re not here just to launch businesses, we’re here to help them stabilize and scale, creating sustainable jobs that last through economic cycles.

For every successful entrepreneur, there’s a phase that comes after the excitement of launch that is stabilization. This phase is where business dreams either turn into enduring legacies or fizzle out. Community-driven economic development organizations are there to catch these businesses when the initial momentum dips, helping them find their footing and strategize for long-term success. Whether it’s connecting them to local markets, providing vital mentorship or opening doors to funding and incentives, our role is to equip these entrepreneurs with tools that go beyond the first year.

The truth is: Recessive trends and economic slowdowns don’t have to spell doom. Community-led economic development is about building resilience from the ground up. When we support entrepreneurs, we’re fostering individual success stories and we’re strengthening the fabric of our local economies. Every time a new business stabilizes and scales, it creates a ripple effect: more jobs; more local spending; and more opportunities for other small businesses.

In a time when existing businesses are laying off employees, it’s the entrepreneurial spirit that will keep our economy afloat. Supporting entrepreneurship is not a luxury, it’s a necessity. As policymakers, community leaders and citizens, we need to commit to building and nurturing these ecosystems that empower people to create and sustain jobs. The stakes are high, either we invest in the entrepreneurial engines of our economy, or we settle for stagnation.

So, let’s get real. If we want to reverse the trends of job loss and declining economic dynamism, we have to start with our communities. We need more organizations willing to roll up their sleeves and do the hard work of building entrepreneurial ecosystems. We need leaders who understand that supporting startups means supporting the future of American workers. We need a cultural shift that respects and celebrates the scrappy, determined risk-takers who build businesses that keep this country moving forward.

Our economic future depends on them. Let’s make sure they have every chance to succeed. Join us in the battle for a future that’s bright, because we invested locally, stood by our entrepreneurs and championed our small businesses.