WSJ article about the impact of a missing factor, but why?
A recent article by the Wall Street Journal points to the percentage share of startups being smaller than ever. Smaller companies tend to grow faster and create jobs faster than already-established firms, the lack of which is creating a sluggish, less-dynamic U.S. economy.
Article Summary
With the economy at just 2.1% GDP growth, economic expansion is moving at the slowest rate since World War II.
Correlating with this is the creation and sustaining of new businesses and startups, those businesses less than a year old have been cut in half from 16% of private US firms in the mid-70’s to just over 8% in 2014.
My Take
Today’s small business owner is facing competition with more corporation style companies. For example, years ago a small grocery store was probably competing with another store who has almost the same resources. Today, a small business grocery store has to compete against corporate grocery stores in the same neighborhood as well.
Another big reason entrepreneurs are not becoming successful is because they end up working inside the business too much, operations management and tasks needed to keep the business going. Instead they need to work on the business, which is business development and growth.
Complexity and cost of business management and business development has also been keeping the new blood from joining the force.
So what can we do to help those who wish to build a new world? This was a central question when we launched ERP Gold.
Erp.gold serves a small business’s needs from business development to business management. It is a business process solution that is affordable, easy to use, and has a generous learning curve. And top of all that a business can request changes based on their needs.
My hope is that our software-solution gives those entrepreneurs willing to run and grow their own business the tools to keep up with established corporations. Creating a more level playing field for start-ups will be essential to the future of our economy and our country, and at ERP Gold we want to be at the forefront of that wave.
Try ERP Gold Free for 45 Days.
Business and Growth made easy.