Entrepreneur Magazine outlines three problems they see facing potential entrepreneurs:
- Affordable education solves obsolescence – alternatives when jobs are lost to robotics
- Millions lack internet access
- Packing the backup chute – need for stability
Here’s what they have to say about internet access…
For some American would-be entrepreneurs, there’s still a substantial hurdle to overcome, and it’s something almost anyone reading this takes for granted; internet access.
In 1977, more than two out of every ten U.S. startups were in rural areas. Today, when high-speed internet service is a business essential, that ratio is just over one in ten. The reality is that 39 percent of rural Americans (23 million people) lack access to broadband internet speeds. Rural areas often receive “hand me down” equipment after it has been used in larger urban areas, which means rural internet service is forever behind the times.
Joel Young runs his video and animation business out of his rural Ohio home where he struggles with unreliable connectivity and speeds a fraction of what urban and suburban communities get. Joel’s is the exact kind of business that could flourish in a rural area, pulling in customers from a global marketplace without relying on local demand, but without reliable access and equal speed, businesses like Joel’s struggle to ever get off the ground and simply don’t have the same chances to succeed.
The Obama Administration introduced the National Broadband Plan in 2010, following the example of previous generations that brought electricity and telephone connectivity to every home in the country. They understood universal access is crucial for the development of the country. While President Trump and Congressional leaders have made statements around infrastructure spending, the FCC is killing a program to bring high-speed internet to low-income households with children. You could argue the administration is working against expanding crucial infrastructure.