By: LaToya Bines
08/01/24

Jared Polis and Darrell Issa, two of the wealthiest Congressmen in 2014, collaborated with others to form the bipartisan Congressional Caucus on Innovation and Entrepreneurship. The goal is to remove the obstacles that stand in the way of entrepreneurship, help strengthen the economy, and to direct the world to America for innovative ideas and quality products.
Jared Polis
In 2020, Jared Polis was named the richest Democrat in Congress. He founded his wealth through an online greeting card company with the domain name BlueMountain.com, and an online flower company called ProFlowers. He was able to successfully scale both businesses prior to selling and starting a new venture in technology, TechStars.
Darrell Issa
In 1982 Darrell Issa co-founded Directed Electronics, a consumer electronics business, which would later become DEI Holdings. Noticing the rising number of stolen cars in major metropolitan areas, Issa dedicated his time to developing innovative products. Focusing on circuit-controlled security systems, the company would be responsible for products such as VIPER® and Python®. In 2018, Darrell Issa was named the wealthiest member of Congress.
Startup Day Across America
Both entrepreneurs strived to serve people in the private sector before becoming a member of Congress, but the entrepreneurial spirit never left them. While some sources say that Startup Day Across America began in 2013, an article written by Darrell Issa and Jared Polis on July 8, 2014 https://thehill.com/opinion/op-ed/211632-introducing-startup-day-across-america/ proves otherwise; “one of our biggest accomplishments is establishing the first ever “Startup Day Across America,” taking place this year on Aug. 5”.
10 years later to the day, America reserves this holiday and has provided a blueprint for other countries seeking to recognize the work of entrepreneurs. Entrepreneurship has become increasingly more acceptable and a vital option for those seeking to leave their 9 to 5 jobs. During the Great Resignation, Americans filed 5.4 million new business application. As of April 2023, there were 33.2 million small business within the United States.
As of January 1, 2024, there is now an additional step to start a business in the United States. After you register your business with the Secretary of State or similar office and obtain your Employer Identification Number (EIN), you must now report Beneficial Ownership Information (BOI). Beneficial Ownership Information Reporting (BOIR) is a federal requirement designed to wean out illicit behavior such as money laundering. A beneficial owner is any person(s) who owns a company, has 25% control over a company, or has substantial control over a company.
This regulation has not stopped small business owners. Since 2023 fourth quarter, small businesses have seen growth rates the rival pre pandemic numbers thus creating more jobs. Since 2019 small businesses across America have provided over one million new jobs. To celebrate Startup Day Across American, Elevated Standards LLC will host virtual events as well as provide discounts on our startup services. Please feel free to email us at info@elevatedstandardspa.com, if you would like to become a part of this growing population of American business owners or visit our website at www.elevatedstandardspa.com to sign up for an event.
Resources
https://thehill.com/opinion/op-ed/211632-introducing-startup-day-across-america/
https://www.forbes.com/sites/zackfriedman/2018/03/30/congress-money-entrepreneur/
https://www.uschamber.com/small-business/state-of-small-business-now
https://advocacy.sba.gov/wp-content/uploads/2020/06/2020-Small-Business-Economic-Profile-US.pdf
https://advocacy.sba.gov/wp-content/uploads/2024/01/Economic-Bulletin-December-2023_final.pdf
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