Small businesses are not only creative and fun, but also very vital to the economy. Small business makes up more than half of all private sector employees in the United states. Today, when large corporations go out of business, many people lose their jobs. Borders, Books, and Music is a relevant example. How do we plan on filling these job voids? Well, a business created equals jobs created. The U.S. Small Business Administration states that small businesses have “generated 65 percent of net new jobs over the past 17 years.” That’s amazing to me! Small business is definitely going to continue to grow in the future.
Although small businesses do not always survive (just like large corporations), they are still a great way to go. According to the U.S. Small Business Administration, “seven out of 10 new employer firms survive at least 2 years, half at least 5 years, a third at least 10 years, and a quarter stay in business 15 years or more.” People just have to be different and better than the rest of their competition. Capitalism at its finest!
Tomorrow will be my first post on an actual business. It is one of my favorite places to spend time and money at, so I can’t wait to share it with you! The place goes by the name of Heritage Footwear and Apparel. Lucky for me, they are having one of their semi-annual sales tomorrow!
Until next time folks!