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.
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.
A well-reported story in 2010 was the value of angel investors to early involvement in startup companies. William Kerr and Josh Lerner of Harvard, and Antoinette Schoar of MIT, co-authored a report funded by the Kauffman Foundation about the influence of angel investors. According to their analysis, angels add noticeable value to startups.
There’s good news for those working to create a corporation in Virginia. A new study by Pollina Corporate Real Estate has ranked the state as the most pro-business in the country.
For an entrepreneur who has only recently taken steps to create a corporation, finding ways to attract new customers is critical to continued success. A new report from the Wharton business school at the University of Pennsylvania says that referral programs are a cost-effective marketing technique.
For an entrepreneur, part of the draw of working to create a corporation is being his or her own boss. A new study shows that this independent feeling also gives small business owners great satisfaction.