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Wednesday, April 25, 2007

The Entrepreneurial Generation

In honor of National Small Business Week, I want to reference Dr. Jeff Cornwall, over at the Entrepreneurial Mind, who brings us the statistics on the "Entrepreneurial Generation"

Here are some other facts about today's small businesses:

  • Survival rates are now over 50%; with education and training this increases to 80-90%
  • They make up 50% of GDP
  • 5-6 million small business have employees
  • 99% of employers are small businesses
  • Over 50% of workforce now is employed in small businesses
  • 45% of total payroll comes from small businesses

BOTTOMLINE: "These businesses have become the engines of job creation for the US. In fact, entrepreneurs and small business owners are responsible for 77% of new jobs created in past twenty years. They have strong values, which for many are based on a very strong faith. They believe that they can build a better economy and help restore our culture."

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