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Feb
27

Entrepreneurs Tale of the Tape

By

starting-lineThe 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!


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