It’s an amazing figure...believe me...and quite unexpected too...in San Diego’s North Country a total 95% of small businesses do not employ more than five employees. This Small Business Administration Office of Advocacy figures out:
Represent 99.7 percent of all employer firms.
Have generated 60 percent to 80 percent of net new jobs annually over the last decade.
Are employers of 41 percent of high-tech workers (such as scientists, engineers and computer workers).
Gary Night has some insightful thoughts here, He feels small business owners found these difficulties while launching and go ahead with their business. They are
Money (Underfinanced)
Government Regulations
Lack of domain knowledge
Finding knowledge employees
I agree with it completely. I know some small scale enterpreneurs who start planning a business because one of their neighbors are earning pot full from certain domain. Lack of planning ruins the game. Also you have some bookish kinds who follow business page of newspapers quite religiously and follow on those feel good predictions given by some research firm. They tend to forget that without deep realm knowledge and resource (sometimes that comes through inheritance also, but that’s a different ball game, I’ll discuss some other day) and real interest in the area its difficult to move ahead. Forget getting ROI.
Via [NCtimes]
