Small businesses are an integral part of the United States economy. They help create jobs and strengthen local economies in addition to the overall health of the economy. Job creation aside, there are numerous other benefits that small businesses bring, like innovation and adaptability.
The Small Business Administration (SBA) reports that since 1982, number of small businesses in the United States has grown by 49 percent. Not only has the U.S. been experiencing an increase in the number of small businesses, but a recently released report revealed that the U.S. is a worldwide leader in the realm of starting new businesses.
According to Forbes Babson College and Baruch college prepared the Global Entrepreneurship Monitor 2013 United States report, which found that in 2013, roughly 25 million Americans started or ran a new business. Compared to 25 other countries examined in the report, the U.S. had the highest rate.
The report additionally detailed that there was a positive outlook for continuing to spur job growth. It found that 37 percent of those surveyed have plans to employ more workers by adding six or more positions over the next five years. The tough job market seems to have been factor in driving up the number of startups. More than 21 percent of U.S. entrepreneurs cited not having another option for work as the reason for starting their own venture.
As this report demonstrates, if you're considering starting a business, you're in good company. Not only will you receive the personal rewards that go along with running a business, but you will have a chance to contribute to the strength of the economy. Experienced and first-time business owners alike can benefit from incorporation. Contact an online incorporation services company to learn more about the benefits of incorporating your business.