We hear a lot of talk about “The Economy” these days. It’s everywhere. We see and hear it on the news, while shopping or even just standing in line for our coffee. Even if we aren’t all talking about it, we are at least thinking about it and the impact it’s having on our businesses and our lives. But did you know that both negative and positive statistics can be found, if you’re looking in the right places? And did you know that you have neighbors who are just like you that are experiencing what you’re experiencing?
Here are a few recent statistics about small businesses in America:
- Small businesses account for about 30% of total payroll in every state[1]
- There are 27 million small businesses in the US
- Between 60-80% of new jobs in the US can be attributed to small businesses
- 69% of small businesses last at least 2 years, while 31% last as long as 7[2]
- In 2009, an estimated 552,600 business started, while 660,900 closed[3]
- 41% of small business owners say they can’t get a traditional loan from a bank[4]
By all accounts, things might be tough. But as these statistics show, they are not impossible. Even though it is more challenging to be a business owner in the current economy, entrepreneurs are a stubborn group of people who have also persevered and made a positive impact on the economy.
You may be caught in the middle between “success” and “failure”, but don’t give up yet. While banks may not be lending as much as they used to, there are other options. Have you been struggling to continue making your business profitable despite the current economic woes? If money is your challenge, give us a call. We have options than can boost your business to profitability.
