Employment VS. Ownership
As a franchise coach I often work with people from the corporate world. Folks who are coming to the conclusion that employment may not be a long term solution to their needs and goals. But what comes next?
Occasionally we run into some statistics that really get our attention. That happened to me last week when I was on the SBA.gov website. I am directly copying the content from the SBA webpage –
‘One thing is for sure, as a small business owner you are not alone! There are millions of small businesses across the United States traveling the same road as you each and every day. Although your business operates in its own unique fashion, the cumulative impact of the small business sector is enormous.’
Small business is BIG! The 28 million small businesses in America account for 54% of all U.S. sales. Small businesses provide 55% of all jobs and 66% of all net new jobs since the 1970s.
The 600,000 plus franchised small businesses in the U.S. account for 40% of all retail sales and provide jobs for some 8 million people. The small business sector in America occupies 30-50% of all commercial space, an estimated 20-34 billion square feet.
‘Furthermore, the small business sector is growing rapidly. While corporate America has been “downsizing”, the rate of small business “start-ups” has grown, and the rate for small business failures has declined.’ The number of small businesses in the United States has increased 49% since 1982.
Since 1990, as big business eliminated 4 million jobs, small businesses added 8 million new jobs.
If you believe in the power of trends, it is obvious that entrepreneurship is growing while the number of jobs in corporate America is shrinking. If you want to see the original page go to – https://www.sba.gov/content/small-business-trends-impact