|Small business ownership on the rise in recent years
The idea of owning a small business is a birthright for the few who have been raised with an entrepreneur spirit, while for some the dream of owning a small business is an idea inspired by the need or desire to become more independent. And, of course, there are those who may never consider owning a small business, and choose to forever remain a customer.
Business owners and consumers obviously are important economic factors, as they complement each other. Those who have chosen to be a part of the small business demographics have contributed to the rise of small businesses in recent years, as it was reported by the U.S. Small Business Administration (SBA), that corporate downsizing has prompted many to start small businesses of their own.
The power of the small business sector has also taken the lead over corporate-owned business, as small businesses are accountable for more than half of all sales in the U.S, according to an SBA report this year.
It seems this trend will continue, as more and more colleges are offering entrepreneur courses. Although, some educators admit these courses may need to be reformed in order to obtain the necessary skills that come with actually running a business, there are some who have stated these entrepreneur programs teach a level of professionalism the next generation will need to be successful. Either way, starting a business from scratch or having a business concept inspired from a college assignment and becoming a business owner has traditionally been a part of the American dream.
History has shown people come to the United States searching for opportunities of ownership, as most of our ancestors have done over the past 200 plus years.
The responsibilities of owning a small business can be an intimidating responsibility for some. But starting a business is not as intimidating as it may seem, especially with organizations, such as the National League of Cities (NLC), who have been bridging relationships between small businesses and city governments, as it is in the best interest of local governments to support new business because it contributes to local economic growth.
In addition, the majority of city, state and government websites offer a list of requirements and easy to follow steps to obtain the necessary licensing for all types of business startups. This includes the SBA offering their guidance on how to start a business – from writing a business plan, to searching for grants and possible financing.
These resources can be helpful for those considering entering the small business sector. However, new business prospects must consider all of the initial startup fees, which could range from $500 to $30,000 or more, depending on the scope of the business plan.
In closing, as a business coach of 20 years, it is important to remember as a new business owner to offer a quality product at an affordable price, great customer service and to continually share their passion and enthusiasm about their business with everyone they meet.
Daniel Del Pino is a small business consultant and advocate. He can be reached at by calling (707) 537-5875 or by email at firstname.lastname@example.org.