Since such a large number of new or existing jobs are in small business operations then it is logical to assume that you will work for an American entrepreneurs at some point in your life. Small businesses are often more responsive to the needs of the marketplace. Innovation is often quicker and more creative when conducted by small business owners. It is also true that the American entrepreneurs are more efficient and effective with resources when compared to large corporations.
Considering these facts, why do economists, news agencies, and political pundits seem to focus on large corporations? The answer might lie in our seemingly corrupt political system. Corporations have deep pockets and slush funds. Those deep pockets are directed to special interest groups and lobbyists who push the corporations agenda. The American entrepreneur might be an endangered species. The politician might pay lip service to the small business owner but it is the corporation who has the politician bought and paid for. This is not to imply that every politician is corrupt. The point here is to highlight the fact that political campaigns are expensive and those expenses are paid for mostly through donations from billionaires and large corporations who in turn expect results for their investments.
The Breviary: American entrepreneurs are still the backbone of America’s economy. Our political system is flawed which seems to work against the very entity vital to our way of life, the small business owner. Saving the small business owner might be the quickest way to a stronger economy. An excellent resource for entrepreneurs can be found here.
American entrepreneurs are the most aggressive and creative compared to any other nation. It is no secret that America’s economy is lagging. We often focus on large corporations for the solution to unemployment or stagnant wages. The facts in this article suggest that we are looking at it all wrong.
There is not necessarily a generally agreed upon definition of small business entrepreneur. Some government agencies define a small business only in relative proportion to other businesses in the same class. You could own a 20 million dollar gross revenue business and still be considered small by some standards. It is also true that you could own a 2 million dollar gross revenue business in other sectors and not be considered a small business entrepreneur.
Some interesting data points on American entrepreneurs operating small businesses might surprise you.
- 50% of all American businesses are operated by small business owners.
- Over half of all employees across the USA are hired by small business owners.