We now have seen how Americans with incomes at the top 1% control the wealth of America. We have now seen how the top 1% of the world’s income earner’s do likewise for the world. And, we have seen how it’s just a few companies that control the bulk of the world’s wealth and sales turnover. And, none of these are really the folks that do the bulk of the hiring. Oh, and the middle class is disappearing from the US- which is the source of political stability and one of the prime drivers to turn our economy around. [These posts are here, here, here, here, here, and here.]
Gee, Roy- thanks for the doom and gloom. Isn’t there anything good you can tell me?
I can- but it relies on us. We have to make the difference. Not by writing a blog and selling reports, books, or documents on our websites. By being entrepreneurial, starting a new business, and hiring folks and growing that business.
You see, that’s how we can make money, have the freedom to make the rules, AND hire people to grow the economy. Yes, it’s scary. I remember waking up one morning and realizing that 200+ people depended upon the leadership decisions I made and they interpreted- and that number did not include their families. So, making the right decisions is critical- as is hiring the right folks, too.
There are 6 million firms in America. Oh, I know, some folks will tell you there are 30 million businesses- but that’s really a crock. The guy or gal who sells one item on eBay, freelances and makes $ 1000, or does telemarketing from home- they’re not entrepreneurs. Those are just someones who want more cash- G0d bless them- but they’re not running a business. (It’s how they’re taxed, for sure.)
I am talking about the companies that employ people. That plan to make money, survive, and thrive, maybe not beyond their lifetime, but to insure they have a decent nest egg somewhere. Of the 6 million firms, 5.4 million of them employ 20 people or fewer. Those 5.4 million firms employ 20% of all the employees in the US, while garnering 15% of the sales turnover. The firms that employ 20 to 99 firms add another 8% to the total census (almost 500,000) and another 15% of the employment rosters. So, 35% of all employees work for 92% of the firms- those employing 99 employees or less.
[It also means that 8% of the US firms employ 65% of all the employees in the US. And, if these 120K firms (give or take) employed 2 more people this year, it would change the unemployment rate from 9% to 8.9%. Obviously, we need to grow the smaller firms. Because if only ½ of them increased their employment by 1 person, US unemployment would drop to 7%! But, don’t get too excited- it seems that only 2% of all small firms grow employment – which means we need them to grow more than 1 employee each or we won’t make a dent in overall employment either.]
You see, most small employers are craftsmen, doctors, lawyers, and small shopkeepers. And, they don’t grow by much. Most of the small firms that are 10 to 25 y old employ less than 20 employees. And, those firms comprise 25% of all firms (census of all firms in US that are 10 to 25 y of age).
It’s also not a matter of patents, copyrights, or trademarks. During the first 4 to 5 years of a firm’s existence, less than 15% obtain these conventional innovation markers. But, the key point is that many firms innovate without them. (We’ve developed new medical products, water treatment devices, and consumer devices that gained significant market share without patenting the concepts.)
We’re willing to do our part. We will work with any small firm that wants to grow. Provide assistance in person (if they are within 100 miles of our offices, or are willing to let us schedule a visit when we have other business nearby), over the phone (8:45 AM to 10:00 PM Monday to Thursday, 8:45 AM to 3 PM Friday, with other times on Sunday), or via the net (Skype, computer share, etc.) At special rates (we’ll explain directly to you). Our goal is to help you grow, increase your bottom line, develop new products. We look forward to hearing from you.
What’s always so fresh about your blog posts is that you provide solutions, Roy! Sometimes, I feel like my mind isn’t big enough to be able to consider the bigger picture like you do and understand what we can do about the problems we have in the world. I completed identified when you described potential fear in waking up and realizing that there were people in your hands — I think that’s what has me shying away from entrepreneuralism, but I wholeheartedly agree with your call to action! =)
Roy, great post and reminder that the true economic engine are small business owners such as you!
Thanks for the comments, Tor.
If we can up the growth from 2 % of all small businesses to 4%, there will be a tremendous change.
Roy
I tweeted this for you, Roy – great article on the importance of growing the small business. It certainly is a challenge! ~ Suerae
Thanks for the publicity, Suerae.
We can’t wait for others to realize that we have the solution in our grasp!
Roy
Issue oriented thinking versus actionable solutions keeps things as they are or…worse…drops things into the level of complaining. Sticking with focus on the issues is easier and safer than taking risks with solutions that demand investment of resources but it is what leads to change. I am seeing the same kind of thinking in cancer survivorship programs that highlight issues patients are already well aware of without actionable solutions. And in this there lies incredible opportunity.
You said a mouthful, Tambre.
No need to complain about the weather,if you have no desire to figure out how to accommodate it and use it to your advantage!
Dealing with cancer is the same way- it’s terrible, it’s horrible, but there are ways to attenuate the situation and live.
Thanks for your comments.
Roy
Great post, the numbers do tell the story don’t they? Thanks for the information gathering and explaining Roy.
Bonnie…
it’s amazing what you find out when you sit back and ponder!
We can’t rely on others- it’s our prize.
Rooy
You did a good job explaining the difference between a business and a person who just wants to make a little extra cash (I think that is me.)
I really can’t imagine myself hiring people and having the responsibility of people depending on me for their paychecks. Very scary!
Oh, it’s scary- but it’s also exhilarating, Janette! You should try it- really!
But small business has a small voice that it sometimes forget can shout more loudly than the large companies if only they would collaborate and work together. And the numbers you mention are true in the 30+ countries that I have visited.
Absolutely correct, Roberta.
For years, I was the director of the American Association of Small Research Companies. We worked with the DOE (the first big set aside) to get their ideas into practice. Then, I sashayed the effort to make liaisons with the larger multinational firms- where there were partnerships between these larger and smaller entities. The products that came out of those years were pretty impressive.
Small companies need to recognize and utilize their drive, smarts, and expertise to make this world better for them and their compatriots.
Roy
Roy…You hit it right on the nail. We the people can change this economy-not the government. All who are starting business should have a goal to hire people in the near future. There are so many of us who have web based business. We can open a small office and hire 1 person and as we grow our staff will grow. It up to us to make our country better.
Tisha:
Thanks for dropping in! And, you are 100% correct. Thanks for adding to the discussion on this critical issue.
Roy
I always enjoy the very informative articles you share Roy. This one I have to tell you hit a cord with me. I disagree with you on your look at the ‘no a real entrepreneur’ comment. I think there has to be a change in mindset with many people and professions. That has to start from somewhere and doesn’t happen overnight.
People don’t just know how to run and operate a 200 employee company. But if we can get folks to become more independent, earning an income through an online business, I think we need to support that.
So I hope your offer of helping the small business DOES include up-coming entrepreneurs. Maybe I misunderstood this article Roy, but wanted to voice my thoguhts and my passion for those to stand up, be independent and find ways to innovate and create a job for themselves which could then be built into a small business. But if it isn’t, so be it. They are a one man show that is able to take care of their family and have the income to also be a contributor to our economy.
Lynn:
I am not trying to insult or demean those that want their own businesses. I stand up and applaud their efforts each day.
However, there is a major difference between those that want a business and those that want to create a venture. Those that want to start a business make a change in the world. They help themselves, they improve their income (one hopes the economy, as well), but they are not building anything. NO ONE SAYS THEY HAVE TO WANT THAT! I have many clients who fit that description. Not everyone wants to learn to manage, direct, or inspire others. As i said, it’s a scary 2AM wake-up call when one realizes how many lives are on the line for every decision one makes. One I still arise to on occasion- even after all these years.
I want to grow employment desperately- to help America, to help folks grow their businesses.
I want to help every business owner make more money- sometimes that means by growing their gross, sometimes (even more otten) by growing their net, changing their tax situation, whatever it takes.
I hope that make it clear.
Great post Roy on the potential for economic drive and survival led by small business.
Maureen:
it’s a job for each of us! (Pun intended!)
Roy
I can understand that there are those that are not cut out to be an owner of a corporation or even a small group or team of individuals. However, I do still think the (solo-entrepreneurs) still can help to make a difference along with the small, medium and large companies and corporations.
So I appreciate you acknowledging that Roy and I know you have a wonderful heart for helping folks reach their business goals. We need many more like you, especially because you take the time to communicate and more important, educate as well.
So I appreciate you taking the time to make it clearer for me on getting your point across. Anyone that works with you Roy will certainly get a highly professional experience with value and true appreciation of achieving goals and success.
Samantha, you could work with a whole bunch of those wonderful people whom you write about. And, the sum would be greater than the individual pots you all maintain…
Roy
What? No entitlement?
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Sorry, David-
That’s just what the world thinks of America. It’s not how we really work. (Unless you are part of the banking system, which believes they can borrow funds interest free, continue to overpay, and continue to rape their depositors.)
Roy
I’ve been absent for some time, but now I remember why I used to love this blog. Thanks , I will try and check back more frequently. How frequently you update your site?
I am so glad you visited, Raul. The site is updated 5 days a week- Monday through Friday.
Roy
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