INFOGRAPHIC: Small Business Ownership in the United States
Starting your own business can seem daunting. Many people shy away from starting their own business because of fear of the unknown and not wanting to take the risk. But those that have taken the entrepreneurial path can attest that being your own boss can be very rewarding. This month at LTAW we will focus on entrepreneurship, from the basics on how to get started to personal testimonials from people who are currently in business for themselves.
It is often said that small businesses are the backbone of America. In a financial downturn, like what we are experiencing, small businesses can be the vehicle to turn things around. Small businesses create between 60% – 80% of all new jobs in the United States and starting a small business in the United States is relatively easy. Our infographic below illustrates the characteristics of small businesses in the United States based on the 2007 Survey of Business Owners conducted by the U.S. Census Bureau and the latest American Express State of Women-Owned Businesses Report.
If you’re hesitant about starting your own business hopefully these numbers will give you a bit of optimism. Over 27 million businesses have been successful, and yours could be too! So what are you waiting for, get out there and go for it!