Its on Interesting time to be a Small Business Owner

Owning and operating a small business can be exciting, challenging and rewarding. It’s one of the best ways to fulfill the “American Dream.” There are many reasons why so many individuals are interested in owning a small business,

• The number of Small Business is growing rapidly
• Small firms generate most new private employment
• The public favors small business
• There is a growing trend toward self-employment
• Entrepreneurship is attractive to people of all ages

Rapid Growth in the Small Business Sector

The Small Business sector is one of the greatest economic powers in the world, accounting for trillions of dollars’ worth of commerce annually. There are about 23 million small businesses in the United States. They create over 70 percent of the new jobs and employ 50 percent of the country’s private workforce.

Trend toward Self-Employment

The growth rate for self-employment is greater than the growth rate of the general workforce. Small businesses have been growing rapidly since the mid-1980s as investors became more willing to assume the risk of starting or revitalizing small businesses. Many are executives from large corporations who were eager to put their skills to work reviving smaller companies in aging industries. A recent national poll found that over 50 percent of us want to be are own boss.

Entrepreneurship has No Age Limit

From the very young to the very old, people are starting new businesses at a rapid rate

Remember when you start a small business, you cannot just “turn it on and off” like a light switch: that is, you cannot take time off whenever you want. If your business is to succeed, you cannot shut down when things are bad are not going well.