State business survival strong

Posted on Jul 12, 2015

From the Milwaukee Journal Sentinel
Published July 11, 2015

While Wisconsin has taken its lumps of late for being among the nation’s lowest-ranked states for company startups, the picture looks a lot better when company “survivorship” is measured.

Wisconsin ranked 7th among the 50 states for companies with a six-year survival rate and also among the top 10 for the business 10-year survival rate, according to 2013 figures from the U.S. Commerce Department’s Bureau of Labor Statistics.

As the Wisconsin Economic Development Corp. noted in its latest report on the state’s Qualified New Business Venture program, which is marking 10 successful years, it often comes down to ensuring that young companies have the tools they need to succeed.

“Plain and simple, a company started in Wisconsin has a better chance of beating the obstacles that affect young companies,” the WEDC report noted, for reasons that range from the general cost of doing business to advice on the front end from strong advisors to upstream connections to customers and investors.

One emerging resource is Scale Up Milwaukee, an organization focused on working with companies that are beyond the startup stage and poised to grow.

A project of the Greater Milwaukee Committee, Scale Up Milwaukee is based on a model developed by Daniel Isenberg, founding executive director of the Babson Entrepreneurship Ecosystem Project. An investor and entrepreneur as well as an academic, Isenberg has worked with entrepreneurship systems in Colombia, Brazil and Denmark. Milwaukee is the first U.S. community to develop an entrepreneurship program based on his model.

Read the full article here.