242 years ago, America’s Founding Fathers secured independence through the signing of the Declaration of Independence, forging their way and our future. Small business owners earn that same independence through creating and running their own companies. Another important advantage of small businesses is that they give money back to their community. If you live in Smalltown, USA and work at Random Small Business LLC, chances are you’ll spend that money right where you earned it. That revenue and the resulting tax dollars are then spread around the community, enriching and supporting everyone in the process.
Brad Sugars wrote an article titled “How Many Jobs Can Your Startup Create This Year?“ that highlights the fact that small businesses account for between 60-80% of all U.S. jobs. Since 1995, small businesses are responsible for paying out 44% of the total U.S. private payroll. The celebration of independence is certainly on everyone’s mind this time of year, so what better time to start thinking about the independence of running your own business!
Here’s what the experts say:
- Pride and Happiness: Building your company up into a success leaves you with a sense of pride and long-term happiness that you may not get as being a part of another company. According to a survey from Yodle, 91% of Small Business Owners are happy that they chose their path, while over half are “extremely happy”. It’s hard work running a business, but it’s also one of the most fulfilling career paths imaginable!
- Flexibility: As a Small Business Owner, your hours spent working every week are up to you! 52% of Small Business Owners work 40 hours or less per week, while about 10% work as many as 60 hours. You can be as busy as needed. Small Business also allows you the freedom of working from home. Want to work while comfortable? According to GoDaddy, 15% of Small Business Owners could work in Pajamas!
- Helping Your Community: In 2017, Google Impact Challenge granted several small businesses in the Pittsburgh area $50,000 to help them with their goal of helping their community. Although they started small, each of the winners has used their funding to help give back and improve the lives of others in the greater Pittsburgh community.
If you are interested in starting a Small Business, The Small Business Development Center at the University of Pittsburgh offers our First and Second Step Workshops on the Mechanics of Starting a Small Business and Developing a Business Plan. The two workshops have helped countless businesses from the Pittsburgh and surrounding areas get started and grow into successful businesses.
We hope you have a great Independence Day!