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Small Business Start-ups Aid Economic Recovery

Monday, January 30, 2012   (0 Comments)
Posted by: Kristina Moy
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By Otis White, Rio Salado College

During National Small Business Week last May, Brian Morris, a leading small business and entrepreneurship blogger reported that there were more than 27 million small businesses in the U.S. He also reported that between 60 and 80 percent of all new jobs, depending on the industry sector, would be created by small and medium sized businesses that will hopefully startup operation after the recession is over. Well, it is after the recession and the country is looking for those new businesses.

What worries researchers and small business advocates is that the nation’s confidence in starting a business is actually slipping to lows not seen in years, according to the National Federation of Independent Businesses. Many blame the housing crash as home equity is a major source of funding for new businesses. Bank lending for new business is at an all-time low and venture capital sources are becoming more and more selective.

It is entrepreneurship and risk taking as said by economist Joseph Schumpeter, "which creates the new and vibrant economy out of the ashes of the cold stagnant one.” Our nation has lots of ashes.

All successful companies began with an idea. For those who have ideas and are interested in starting a new business the possibilities are endless and might even be able to help sweep up some of the ashes.

Read more about the growing and prosperous 2012

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