The newly signed legislation in Missouri, known as the Right to Start Act, is a significant step towards boosting entrepreneurship in the state. This initiative, part of a nationwide movement with its origins in Kansas City, aims to eliminate barriers for new entrepreneurs and overlooked business owners. Advocates believe that this legislation reflects broad public and bipartisan support for fostering a more conducive environment for startups in Missouri.
Missouri Senator Travis Fitzwater, a longtime advocate for the bill, emphasized the positive impact that advancing entrepreneurship will have on the state’s economy. The Right to Start Act, which he first introduced in 2021, prioritizes supporting startup businesses and young companies, providing essential tools to maximize their potential for the benefit of all Missourians.
Governor Mike Parson signed the Right to Start Act (SB 894 and 825) into law, with an effective date of August 28, 2024. The legislation received bipartisan support in the Missouri House and Senate, passing by significant margins. This demonstrates the widespread recognition of the importance of promoting entrepreneurship and supporting small businesses in the state.
The Right to Start initiative is a national effort led by Victor W. Hwang, an economic growth expert with a background in entrepreneurship. The Act in Missouri includes provisions such as creating an Office of Entrepreneurship within the Missouri Department of Economic Development, promoting policies to support the growth of small businesses, and requiring reports on contracts awarded to new businesses.
Missouri is the second state to enact the Right to Start Act, following Nevada’s lead. Hwang highlighted Missouri’s role as the first state to support the initiative, setting the stage for broader adoption across the country. The momentum around creating Offices of Entrepreneurship and similar initiatives underscores the growing recognition of entrepreneurship as a key driver of economic growth.
Policy recommendations and Right to Start Acts are gaining traction at various levels of government, indicating a shift towards supporting entrepreneurship as a priority. Elected officials and department heads are increasingly aware of the economic impact of entrepreneurship and the need to reduce barriers for new businesses. The advocacy group’s key policy positions are driving momentum and shaping the conversation around entrepreneurship.
One of the longstanding priorities of the Right to Start initiative is non-compete reform, which aims to remove barriers for entrepreneurs looking to start new businesses. The recent announcement by the Biden Administration to ban non-compete agreements was welcomed by Hwang and Right to Start, as these agreements have been a significant obstacle for entrepreneurs. The decision is expected to spur new business startups, job growth, and innovation, aligning with the goal of fostering a more entrepreneurial-friendly environment.
In conclusion, the Right to Start Act in Missouri represents a significant step towards supporting entrepreneurship and small businesses in the state. By eliminating barriers and providing essential tools for startups, this legislation aims to energize the economy and create opportunities for new entrepreneurs. With bipartisan support and a national momentum behind the initiative, Missouri is leading the way in promoting a culture of entrepreneurship and innovation.
