Small business technology may ultimately rely on federal funding ...

March 5, 2013 in Finance and Accounting, Technology

A majority of professionals agree that the progress of small business technology?and other areas that help private organizations grow are largely dependent on federal research funding, according to ResearchAmerica.

The Huffington Post reports the upcoming U.S. sequester, which will trigger budget cuts that put thousands of federal jobs at risk, is particularly troublesome for professionals working in academics according to Association of Public and Land-Grant Universities president Peter McPherson.

?It would have severe, long-term impacts that would put our nation at an extreme disadvantage for years to come,? he told the Chronicle of Higher Education.

Even schools with massive endowments, the Huffington Post says, could take a hit from the sequester, as 60 percent of Harvard University?s studies alone are reliant on federal money.?Based on a study by ResearchAmerica, 70 percent of small business owners interviewed don?t support the cut of federal funding for science, technology, engineering and math (STEM), and 67 percent say such programs are vital to private industry growth.

The study also looked closely at the support of medical initiatives?that are able to operate thanks to federal funds. Additionally, 80 percent of small business owners want the federal government to keep paying workers who are?developing innovative healthcare technology.

Source: http://buildmybiz.com/small-business-technology-may-ultimately-rely-on-federal-funding/?utm_source=rss&utm_medium=rss&utm_campaign=small-business-technology-may-ultimately-rely-on-federal-funding

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