These are heady days to be an aspiring entrepreneur in the U.S. Even the risk-averse with an idea might want to consider jumping into the small startup business arena today. Despite the historical odds against small business longevity, things have definitely been looking up in recent years!
From 2005 through 2015, roughly half of startup businesses survived for five years or longer, according to the U.S. Dept. of Labor, Bureau of Labor Statistics. And in 2017, nearly 80 percent of new business startups had survived for a full year, a remarkable success rate by historical standards and the highest in ten years! Moreover, one-third of those businesses had survived for a full ten years!
Certainly, these numbers have buoyed the confidence of enterprising business people, such that an average of 406,000 new U.S businesses has sprung up in the past few years! Following the serious economic downturn from 2008 – 2011, the U.S. experienced a gradual improvement in the overall economy, job growth and assistance for small businesses. Now, with the enactment of business tax cuts, a relaxed regulatory environment and a generally more favorable business climate in the U.S., there is a highly positive outlook for ambitious entrepreneurs. This has undoubtedly encouraged many people, discontent in their corporate America jobs, to venture forth on their own. Many have been rewarded for making the switch.
Embedded from Best 4 Businesses.com
Trending Articles
