Feb
27
Entrepreneurs Tale of the Tape
By
The numbers are compelling, but perhaps not surprising: entrepreneurs make our economy – period. Our economy isn’t driven by social programs, or by AIG/Lehman Bros/Morgan Stanley/General Motors or any other combination of banks or big business. The concept that “What’s good for GM is good for America” has been turned on it’s head: “What’s good for America is good for GM”! And, what IS good for America? NEW BUSINESS CREATION!
The Kauffman Foundation compiled statistics that make this irrefutable. Among them:
- All net job growth in America from 1980 to 2005 came from companies less than 5 years old.
- One-third of all new jobs come from the creation of new businesses. ÂThat doesn’t factor in the job creation from companies that are just a few years old.
- In 2007 – which wasn’t a “great” year economically speaking – 495,000 new businesses were created every month. During that year one-third of 1% of adults created a business per month.
- 40% of young people between the ages of 8 and 21 would like to start a business someday – or already have.
- New businesses are 3% more productive than mature businesses. And, 5-year old companies are 5% more productive than mature businesses.
- On average, 75% of startup capital comes from equal parts owners equity and debt, including credit cards.
- Angel investors average 27% return on startup investment.
- Twice as many high-tech startups have founders over the age of 50 than younger than 25.
If we are serious about economic recovery, we better get serious about helping entrepreneurs and would-be entrepreneurs start new businesses. Need a job? Start a business!
Related Posts -
Should You Hire Yourself? When you make the decision to start your own business, this is a really THE critical question. The answer to this question should consider several different factors: If you currently have a job, what problem is going to be solved by leaving it? If you are leaving your current job...... -
11 questions that can help you choose the best business entity for you Small business veterans may differ on politics, taxes, management styles and even on business models. But one thing they generally agree on is this: the business world is a dangerous place. In business, there is potential trouble literally everywhere - contracts, product liabilities, employee problems, intellectual property mistakes, etc. -......
Related Websites
