We would like to feature an article from the Wall Stree Journal that discusses how many new businesses in the US are not succeeding and are unable to hire new employees.
Newly opened companies created a seasonally adjusted total of 2.6 million jobs in the three quarters ended in March, which is 15% less than in the first three quarters of the last recovery. The article also states that new businesses are the most important source of jobs and a key driver of the innovation and productivity gains that raise long-term living standards, without them there would be no net job growth at all. Tough economic times have pushed more Americans into business for themselves, working as consultants or selling wares online. But many are not taking the additional step of forming a company and hiring employees. Even though it may seem like a major factor, most entrepeneurs say it's not all about finiancing, they express concern about taxes and health-care costs as well. In many cases, entrepreneurs today don't need as much money, or as many people, to start new businesses. For example, software, communications technology and high-tech equipment are far cheaper and far more powerful than they were a decade ago.
Click here access the full article from the Wall Street Journal.
Every day the SBDC deals with either struggling or new entrepreneurs who are looking to grow, expand, and succeed in the business world today. We help the kind of people that are talked about in the article, so with an increase entrepreneurs struggling can lead to an increase on the impact Small Business Developlment Center can have on helping people begin or expand their business.
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