Three Reasons All of Your Assumptions About Small Businesses Are Wrong


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They say that many small businesses will fail within the first year, but there is plenty of evidence to the contrary these days. We all know that there are huge corporations out there that seem to make up most of the businesses in America and that many of them are very successful. We also assume that starting a small business these days is not smart and that funding a start up is going to be impossible. Here are three reasons that all of those assumptions are wrong.

Small businesses are thriving
Small businesses have bounced back from the economic recession that the United States experiences just a few years ago. Now, Americans seem to have a particular distaste for big business and corporations and recognize the importance of supporting small businesses and the effect that can have on our immediate communities.

They make up the 90%
Though we know big names and big companies, they are actually far outnumbered by small businesses. A small business is defined by the Office of Advocacy as a privately owned business that employs 500 or fewer people. These small businesses make up 90% of the businesses in the United States, so they probably aren’t going anywhere any time soon.

There are more small business funding options
New business funding is on the rise, whether it be in the form of grants, loans, or other alternative funding solutions. Start up small business loans can be acquired at more and more private lending institutions, perhaps largely due to the involvement of the Small Business Administration (SBA). The SBA provides a guaranty on start up small business loans that makes more lenders comfortable lending to more borrowers.

Do you know of any other business funding solutions? Let us know in the comments. Links like this.

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