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Through the 12 months ended in March of last year, 505,473 new businesses started up in the U.S., according to the latest data available from the Bureau of Labor Statistics. That's the weakest growth since the bureau started tracking the data in the early 1990s. It's down sharply from the record 667,341 new businesses added in the 12 months that ended in March 2006.
Weak start-up growth has dire implications for jobs because small and midsize businesses have driven employment gains in the U.S. for years. Between the recession that ended in late 2001 and the start of the most recent recession in late 2007, businesses that employed fewer than 500 workers added nearly 7 million employees, according to data collected by payroll provider ADP, which tracks employment trends.
I dont' expect small businesses to bail out the American economy. Anyone who does is an idiot and is not paying attention to what is going on. I don't blame small businesses like this. It's the mega corporations like GE and the banks that are ruining the US economy. It's the big oil and extraction industries. These are the companies that need to start hiring and taking risks. Hording cash, laying off people is bull****. Americans and the AMerican consumer made these companies wealthy beyond imagination...........it's time they start giving back and taking risk. They need to start paying more taxes and our government needs to get behind this. If you wanna do business here and take advantage of the American consumer and worker you're going to pay for it. But due to globilization and the fact that most of these big companies like GE operate on a global scale and are owned by banks our government has no leverage. They'll just move elsewhere and find cheaper labor and better profits.
I am in big business...and this is what I have bene telling people. Uncertaintinty around health care costs, uncertainty around new Fed regulations, etc. Until we see a clear direction on policies, and a more pro business response from teh Fed Govt I would not recommend expanding....
And for thos who are critical, ...we have already made cust to improve waste nad improve efficiency.....but why hire when there are unknown costs possibly coming down....unlike the Govt., we can't stay in business if we loose money....
I dont' expect small businesses to bail out the American economy. Anyone who does is an idiot and is not paying attention to what is going on. I don't blame small businesses like this. It's the mega corporations like GE and the banks that are ruining the US economy. It's the big oil and extraction industries. These are the companies that need to start hiring and taking risks. Hording cash, laying off people is bull****. Americans and the AMerican consumer made these companies wealthy beyond imagination...........it's time they start giving back and taking risk. They need to start paying more taxes and our government needs to get behind this. If you wanna do business here and take advantage of the American consumer and worker you're going to pay for it. But due to globilization and the fact that most of these big companies like GE operate on a global scale and are owned by banks our government has no leverage. They'll just move elsewhere and find cheaper labor and better profits.
Not going to happen. Why would I take a risk if I can take a concentrated risk elsewhere...Businesses are around to make money, not hire people. Businesses want to hire good people to do that. Businesses can pay extra to teh Govt (in taxes) or to employees, but not both. If I think the Gov is about to change laws to impact the bottom line, I would assume not hire. Not a hard concept...corproate tax rates are some of the highest in the world...want to hire local, provide business with beter incentive to do that...
It's pretty simple why jobs are not this administration's primary concern. You know, the President gives lip service to it, but he demonstrated in his first years in office that everything (stimulus that doesn't stimulate, Obamacare, Cap and Trade, moratorium in the Gulf) else all come before a jobs priority.
See, if people aren't working, they need Democrats.
Private industry doesn't add Democrats to their payrolls as a group of voters. Better off keeping people unemployed and dependent on government so they'll assuredly vote Democrat for government freebies: welfare, food stamps, extended unemployment benefits, etc.)
If they have to work, better to increase the number of federal goverment workers. They vote their paychecks so increase federal government workers and be assured of increasing Democrat voters.
Marc Faber had said this is a time to preserve and hide wealth, not to create it.
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