UNEMPLOYMENT DOWN IN JULY
The latest federal government data reveals that in the month of July, around 900,000 Americans went back to work. This is largely a result of the shift away from federal and state unemployment benefits. Twenty-six states ended unemployment benefits early, motivating many Americans to return to the workplace. Even with unemployment levels so high, the future is promising for small business in general and there is really no better time than now for startups.
According to fed data, 5.7 million people who were employed at the start of March are still unemployed. Speak to any small business owner today and they will tell you that they are still having problems attracting employees. However, as more states reduce the unemployment benefits, more people will find the need to return to work.
SmallStart Ventures is expecting a surge in business startups in the next two to five years comprised mostly of small companies that can make good profits with anywhere from 2 to 10 employees. SmallStarts has especially been focusing on ways to help bring more women, minorities, immigrants, and persons who have previously been incarcerated to the entrepreneurial market. Many of the employees who are not currently working are at home dreaming of starting their own business. And many of them don't have the tools or the know how to do it.
Encouraging entrepreneurship for people who have mostly spent their lives working for others is key to helping them improve their life. Owning your own small business can be challenging and is definitely hard work, but it can be extremely rewarding. If you know anyone who can benefit from SmallStarts' business model, let us know, or if you would like to join our team as a success coach or an investor, use the contact function to drop us a line.