Just returned from talking to the Women Veterans Conference on starting a business. What a great group of interesting ideas and plans among the attendees! As we celebrate Small Business Week, here are some useful background details for your use.
There are 23 million small businesses in the US and 3/4th are solopreneurs. Small businesses generate 54% of all US sales and provide 55% of all jobs.
Studies show that entrepreneurs who want to build a company flourish in places that
– have plenty of other entrepreneurs already,
– provide extensive learning options, and
– offer inspiration.
Veterans own 9% of all small businesses and are more likely to succeed than people without military service. These 2.4 million vets have $1.2 trillion in revenue. Their success is built on three main advantages. They understand the need to think ahead but also that plans change or fall apart and you have to be flexible. They have dealt with diverse people and groups successfully. They are experienced in hard work and used to heavy demands common in starting up. A slightly higher portion of veterans build companies than go out on their own in comparison to civilians.
Women are the fastest growing group of new business owners. There are 9.1 million women who have $1.4 trillion in revenue. A higher portion of women are solopreneurs than build companies. New women owned businesses are growing at a rate of 1288 per day according to SBA figures!
Currently there are a wide range of organizations supporting efforts to help people become successful entrepreneurs. These include the Kauffman Foundation, AARP, and many others.
How are you using Small Business Week to grow and develop your own business? Are you celebrating it in any way with your customers or clients? Let us know, we will be happy to help get the word out.