Despite the many challenges facing the US economy in the past generation, more wealth is now created through entrepreneurial efforts than has been in past generations. While the study can be taken as an indication that the wealthy are now acquiring a disproportionate amount of wealth, several other studies (in the infograph below) support this conclusion. The fact remains that the role of small businesses in the economy has expanded tremendously is responsible for more upward mobility than ever before.
American entrepreneurs are now more optimistic and small businesses are now hiring and offer more employee benefits than has been the case in the recent past.
This infographic from First Merchant Services illustrates just how much of an impact small businesses have on the US economy.
Of course, this still gives you a large number of other factors such as the role social status and networks play when it comes to succeeding. But if you’re a new entrepreneur and had to set up shop, there’s really no time like the present.
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