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Posted by on May 22, 2013 in Trends | 0 comments

Glass Half Full: The United States is Still the Best Place to Start a Small Business

Glass Half Full: The United States is Still the Best Place to Start a Small Business

Reading the news and updates on small businesses in the United States, I assume that they are barely surviving, “thanks” to the uncertain economic situation, customers’ lower buying power, and so on. But in reality, there’s still hope!

Looking into the exclusive survey commissioned by CNN Money in partnership with Manta, a social networking site for entrepreneurs, I learn that there is light at the end of the tunnel: More than a third of owners surveyed said that the U.S. economy this year is in better shape than last year.

Signs of recovery?

Perhaps it’s not that bad, after all; perhaps the media focus too much on the dark side of small business; the CNN Money-Manta survey confirm it: 63 percent of respondents said they consider the United States to be the best place to open a small business.

“There’s not another country in the world where small business has the multitude of opportunities like the U.S.” said one business owner.

Among many benefits of starting a business in the U.S., many give thumbs up on the benefits of a free economy and the plentiful resources, making it relatively easy to launch a start-up.

Another survey conducted by the National Federation of Independent Business also reveals similar outlook; small business owners were a little more optimistic during April 2013, although they were generally still cautious.

Of course, there are challenges (which people are seemingly more eager to talk about.)

According to the Manta survey, the economy is still a major concern (30.5%) followed by the rising costs (22.8%) and regulations (15.8%.) Moreover, only 40% of SMB owners are reporting stronger sales than last year.

Some stories confirm that it’s pretty challenging to do business right now, but again, there are always success stories of businesses which are not only surviving but thriving even in today’s difficult economy.

Global challenges

Of course, considering the state of small business worldwide, the U.S. outlook is not that bad, after all. U.K. small businesses are facing cash flow challenges; in Australia, a new survey shows the small business sector remains in a fragile state.

But don’t lose heart; looking into the global trends in the past 4 years, there’s a hint of recovery in the horizon. Association of Chartered Certified Accountants (ACCA) – the global body for professional accountant – has released an infographic on April 2013 that can pretty much show you how the global recovery in the past 4 years is perceived by ACCA members:

The global recovery in underway – let’s stay positive, shall we?

Photo credit: Joits

About the Author:
Ivan Widjaya is the Owner of onSMB.com. He is a web publisher, web property investor, blogger and web property builder. Contact Ivan ยป

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