The now is an exciting time for small business owners, and the same certainly holds true for those who desire to start their own. The last couple of decades has seen growth in the small business sector, as corporate America has downsized, the entrepreneurial spirit has blossomed.
Leading up to Now
How often do we turn on the television, the radio, or open our favorite news website only to hear or read about some large corporation? Certainly, these entities are important, they employ many individuals and assist the “capitalist machine” as we have come to know it.
The “doom and gloom” that is often portrayed by the media when troubles arise within one of the larger corporations is justifiable, to some extent. However, to those of us with an inherent entrepreneurial spirit, we view these unfortunate circumstances as an opportunity.
The statistics from the U.S. Small Business Administration back this. Going back to 1990, large businesses eliminated 4 million positions, and 8 million jobs were created by small businesses. Additionally, small businesses in the United States have grown by 49% since 1982.
What these statistics demonstrate is that the entrepreneurial spirit is alive and well in the United States. Regardless of what develops within the confines of corporate America, there is significant room in the marketplace for small business.
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A good portion of the chatter leading up to the presidential election here in the United States last year revolved around how the economy would react to a Trump or Clinton victory. While it is early in the term, a look back at some observations bears mentioning.
Stanford economist John Taylor believes that a deviation from the economic policies that worked in the 1980s and 1990s is responsible for the slow economic growth we have experienced. This is based upon his research, and the research of others.
If Trump steers the country back to similar policies, and has the cooperation of both political parties at his disposal, growth can not only meet but possibly exceed expectations within the economic sector.
A Helping Hand
For those who are considering the foray into business ownership, often what drives them away and back to the corporate world is fear. They are fearful of how they will finance their startup. Let’s not empty the 401k to finance this idea if we can help it.
There are options to assist with financing your small business startup. What many individuals fail to recognize is that they can apply for a personal loan and use this capital for their business. Take, for example, the Light Stream personal loan review. If you have excellent credit, and meet certain criteria, you can receive an unsecured loan at a low interest rate. With the funding, you can use some of it for personal, while utilizing however much is needed for your startup.
Knowing that you do not have to apply for a business loan for your small business is half the battle. Embrace your creative side, and take the actions to launch the great American dream.