The “money flow”—both private and public investing—can tell us much about where American business is thriving or likely to thrive in the near term. Information about this is readily available. The U.S. Small Business Administration (SBA), for example, publicizes the names of organizations receiving benefits under its financing programs, as do states and municipalities. Businesses that benefit from this money flow can be targeted as potential employers or engagers of outside counsel services. This information serves a dual role as a primer about the various types of financing available to your business clients.
Entrepreneurs—individuals, visionaries really, who launch start-up businesses—are the principal drivers of U.S. employment and economic growth. Start-ups are the key to both job creation and innovation. One hundred percent of net job creation derives from companies five years old or younger. Entrepreneurial ventures are idea factories, as opposed to older, successful firms that focus on preserving the status quo. They are people attorneys bent on successful careers need to know.
There is a movement afoot in a growing number of communities that attorneys should know about when considering where they want to practice: local stakeholder groups are collaborating to establish formal arrangements designed to encourage, nurture and promote business. These “bottom-up” initiatives can mean a larger, more prosperous client pool—including both organizations and individuals—and, consequently, the prospect of a thriving legal career.