Business Savvy

If you could start your own company what would it be and who would it serve? What type of leadership style would you practice? And how would it operate?


Here's some insight,


Over 627,000 new businesses open each year, according to SBA estimates. At the same time, about 595,000 businesses close each year (latest statistics as of 2008). The number of new start-ups has fluctuated since 2004, rising to a peak in 2006 with 670,000 openings before declining over the next couple of years.


Some truth,


The majority of businesses, on average, do not start turning a profit until as late as the third year. Consider all the initial, one-off costs associated with starting a business. Generating a profit in your first year as a company, after significantly more outlay than following years should require, can't be expected.


But check this out,


Small firms accounted for 64 percent of the net new jobs created between 1993 and 2011 (or 11.8 million of the 18.5 million net new jobs). Since the latest recession, from mid-2009 to 2011, small firms, led by the larger ones in the cat- egory (20-499 employees), accounted for 67 percent of the net new jobs.


Source

https://smallbusiness.chron.com/information-small-business-startups-2491.html

https://fleximize.com/articles/001494/when-will-your-startup-start-making-a-profit

https://www.sba.gov/sites/default/files/FAQ_Sept_2012.pdf

8 views0 comments

Recent Posts

See All