Wednesday, August 8, 2012

Is Small Business Dead?

Small businesses in this country are in crisis and too many people are unaware. Hundreds of thousands of businesses are closing their doors and jobs are being eliminated every day. The effect of this unfortunate trend extends to all parts of the United States. Many people with legitimate home business ideas are afraid to implement them because they fear that small business will soon become obsolete.

According to the Small Business Association, there were more than 27 million small businesses in the U.S. as of 2011. Between 60 and 80 percent of new U.S. jobs are attributed to the small business sector. It costs much less to start a small business in this country than it does in Brazil, Saudia Arabia, or even India. On average, it takes about six days to start a business in the U.S. and the process is relatively easy compared to that in other countries.

The success rate of small businesses in the U.S. is sobering. While 69 percent of small businesses survive for at least two years, 49 percent have a chance of failing within five years. Only 44 percent of new small businesses survive for four years and a mere 31 percent survive for seven or more years. In 2008, 627,200 new businesses were created in the U.S. and 595,600 U.S. businesses closed. During that year, 43,546 businesses filed for bankruptcy.

Businesses with fewer than 100 employees represent 99 percent of U.S. employers. Small businesses represent approximately 30 percent of U.S. payroll and 21 percent of national revenue. Within most states, 30 percent of economic activity is represented by small business. These businesses tend to represent a larger percentage of state payroll in states with smaller populations. Unfortunately, the number of startups is declining and the number of small businesses that are closing is increasing.

This trend leads us to wonder if there is a way to keep small business alive in this country. Never one to shy away from difficult questions like this, self-made millionaire Dani Johnson tackled the topic on her recent radio show. The segment was recorded and is currently available on her website for everyone to hear. Dani explains how the average American plays an important role in getting small businesses out of crisis.

Dani knows what it takes to succeed in the small business sector. She managed to escape a horrible childhood environment to establish several businesses and build them into an empire. Like most small business owners, she has faced her share of struggles. She takes the crisis within the small business sector to heart and reminds listeners that the situation affects the foundation of the entire country.

Dani wants all people in this country to realize the success they were meant to achieve. She believes that American consumers can help turn around the U.S. small business sector. She knows that success is possible because she has achieved it. Dani now trains others to become entrepreneurs so they can become financially independent. Let her show you how to keep U.S. small business alive.

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