Too many new entrepreneurs have a narrow mindset when it comes to success. They believe that the way to a successful business is to plan, implement, problem solve and grow over the course of time and most understand that this blueprint is far from easy. In fact, many small businesses will fail trying to take the […]
Research shows that the average age of a successful entrepreneur is 40 years old. One could speculate as to why but one likely reason is that a person in the mid point of their career has gained valuable skills both directly related to their field and also in the business world in general. In addition, […]
There was a close call in Washington D.C. this year. Within the vast health care reform bill that the Obama Administration crafted, there was a law that required all businesses to complete a 1099 form for every business transaction made with outside businesses. In the past it was only for transactions above $600 so the […]
Not long ago, after a new business was well established it required an online presence to sustain its success. Now, the trend is reversed. Many new corporations are created to start first as online only businesses.
The uncertainties an entrepreneur encounters when starting a business should not become causes of stress. The biggest concern is usually the state of the economy, which is something so large it’s beyond the control of any single business owner. This issue keeps aspiring entrepreneurs up at night.
According to the United States Census bureau, small business formation has been on a steady decline. In fact, a recent study found that only 403,765 new small businesses were formed in the period ending March 2009. That is 17% less than one year prior and the lowest amount of new businesses on record since 1977.
Research has confirmed what experienced entrepreneurs already knew—that a weak economy is the best environment for starting a business. A study by the Kauffman Foundation reveals that more than half of the largest and fastest-growing companies in the US were founded during economic downturns.
If lack of substantial financial resources is keeping you from starting a business, consider what other entrepreneurs are doing. As it turns out, most new businesses appear to begin with limited capital.