Since the 1980s, many regulatory agencies were either downsized or closed and waves of publicly owned enterprises were privatized. Some scholars interpret this as signaling the retreat of government intervention. We suggest, however, that rather than retreating, public policy towards business is undergoing a profound shift. Specifically, a new set of policies designed to promote entrepreneurial activity has come to the forefront, that focuses on enabling the startup and viability of entrepreneurial firms rather than constraining existing enterprises.