One of the most frequently asked questions about entrepreneurship is whether starting a new business today is worth doing. Certain market segments are very crowded already, so why start a new business? In reality, however, there are still plenty of opportunities to explore, and starting a small business or a start-up is definitely a great choice.
According to an infographic researched and designed by Elena from the CSBgroup tax advisors, small businesses are still driving the economy. They are inseparable from the steady economic growth the country is experiencing despite the recent uncertainties and changes. There are some interesting, encouraging facts you can discover from the infographic too.
For starters, small businesses are generating jobs more consistently. The country’s small businesses have contributed more than 65% of the newly created jobs since 1995. Small businesses also employ more than 50% of the working population, a whopping total of 120 million workers.
Technology continues to be the main driving factor of small business success. Thanks to cloud computing and business-centric cloud services, you can now establish a start-up and have the ability to compete with the big boys without having to create a big team. Solution as a Service or SaaS enables start-ups to remain lean and their overhead costs to remain at a minimum. Small business taxes are helping entrepreneurs strive.
Does the world need another start-up? It does; it needs lots of them. Start-ups and small businesses are helping the United States strengthen its economic core and allowing the economy to grow as a whole. With the market being as lucrative as it is today, there is no reason why you should not turn your business idea into a successful company today.
Elena loves to keep up with the latest and greatest from the market. She works for CSBgroup, and consults for new and existing companies, especially in tax and legal matters. She is also an expert in offshore and EU-based solutions for small businesses and start-ups. She enjoys writing for various publications and connecting with small business owners and entrepreneurs.