Woman status in doorway of restaurant smiling
If you haven’t heard, this past week was Small Company week. To make it official, U.S. President Barack Obama officially declared it National Small Company Week.
“Our small businesses represent exactly what is finest concerning our nation – the suggestion that along with determination and responsibility, any person can easily construct a much better life for themselves and their loved ones,” Obama said in a statement. “This week, we understand the role small businesses play as pillars of our communities and engines of our growing economy, and we rededicate ourselves to fostering the entrepreneurial spirit that has actually forged the strongest economy the globe has actually ever known.”
This week I have actually been slammed along with story pitches from neighborhood and national PR agencies concerning various small businesses. Although I adore covering small businesses, I am not able to write concerning every solitary among them (it turns out there are a great deal of them). Yet in every one of those pitches and along with a few of my own research, I located some rather interesting facts concerning small businesses. I decided to discuss those below:
Small Company owners and entrepreneurs are happy. According to a report published by University of Phoenix School of Business, 96 percent of U.S. entrepreneurs are pleased they decided to come to be Company owners, and 87 percent said they would certainly recommend it to others.
But Although they love the suggestion of owning their own business, it can easily still be hard. The report located that 62 percent of small Company owners said their Company takes much a lot more job compared to they expected and 39 percent said their current Company has actually come close to failing.
There are nearly 512,000 small businesses in Arizona, Yet according to the U.S. Small Company Administration, a lot more compared to 413,000 of them do not have actually employees. Being Yet being an employer can easily be tough. The U.S. Department of Labor said employee overturn can easily expenditure a firm up to 30 percent of its annual earnings. And according to a recent survey 56 percent of companies along with 101 to 499 employees listed hiring as their No. 1 concern.
Brandon covers retail, restaurants, hospitality/tourism too aviation, small Company and nonprofits.