Business Opportunities Weblog

November 20, 2007 by Rich Whittle | 1 Comment

James Berman At Huffington Post:

Amid the economic gloom of the real estate collapse and the sickly dollar, it’s easy to forget that the real crucible of economic growth is the small business, both here and abroad. It’s also overlooked that small business creation has never been better.

It’s hard to overstate the importance of entrepreneurs to the labor force and to wealth creation. According to the U.S. Small Business Administration, small firms generated up to 80 percent of net new job growth over the past decade, represent 99.7 percent of all employer firms, and employ half the private sector.

Some of these statistics can be viewed with a jaundiced eye, given that almost anything can qualify as a “business” no matter how laughable, unpromising or unprofitable. The ultimate failure rate for new businesses probably exceeds 50 percent, and many firms are born only to die.

But the reality is that small business growth is booming: 650,000 are started each year. It’s never been easier to hang your own shingle. The Internet, software, and cheap computers give anyone a reasonably priced chance.

724,000 people, for example, are reported to make their living solely by selling on eBay. Whether that business consists of a million dollar ticket brokerage or a $20,000 a year virtual yard sale, it appears to be paying the rent.

Read more.

Photo by MSDesigns.

In Entrepreneurship, Self-employed, Small Biz | 1 Comment