What fool in their right mind would start a business in this country today. Obama and his minions hate business owners. The government knows best. The government will provide. The government will create jobs.
With ever increasing taxes, fees, regulations, mandates, requirements, and laws to abide by, it isn’t worth the risk to start a new company. Small businesses are closing shop by the thousands due to Obamacare. The charts below are proof that Obama and our government hate small business owners and have only accelerated the long term trend of less startups and more closures.
American small business is dying.
Authored by Jim Clifton, Gallup CEO & Chairman,
The U.S. now ranks not first, not second, not third, but 12th among developed nations in terms of business startup activity. Countries such as Hungary, Denmark, Finland, New Zealand, Sweden, Israel and Italy all have higher startup rates than America does.
We are behind in starting new firms per capita, and this is our single most serious economic problem. Yet it seems like a secret. You never see it mentioned in the media, nor hear from a politician that, for the first time in 35 years, American business deaths now outnumber business births.
The U.S. Census Bureau reports that the total number of new business startups and business closures per year — the birth and death rates of American companies — have crossed for the first time since the measurement began. I am referring to employer businesses, those with one or more employees, the real engines of economic growth. Four hundred thousand new businesses are being born annually nationwide, while 470,000 per year are dying.
You may not have seen this graph before.
Until 2008, startups outpaced business failures by about 100,000 per year. But in the past six years, that number suddenly turned upside down. There has been an underground earthquake. As you read this, we are at minus 70,000 in terms of business survival. The data are very slow coming out of the U.S. Department of Census, via the Small Business Administration, so it lags real time by two years.
Net Number of New U.S. Firms Plummets
