Business Store

Contrary to the popular belief that 50 percent of startups fail within the first year and 95 percent close shop by the 5-year mark, the truth is: 70 percent of small businesses remain in operation for at least two years, 50 percent are still around in five years, 33 percent in 10 years, and 25 percent after 15 years.

Approximately 543,000 new businesses are started each month. Which means you’re going to have to create something a lot more original than that bathroom finders app.

In 2009 a small business filed for bankruptcy every eight minutes. You probably didn’t notice, however, with the whole Harry Potter and the Half-Blood Prince craze that year.

Over 50 percent of the 120 million Americans in the workforce works in a small business. That means that the plumber you called to fix your pipes last week who can’t even afford a belt to hold his pants up is probably a small business owner.

There are nearly 28 million small businesses in America. Of those 28 million, a full 22 million consists of one lone employee. Finally—a way to make money from being anti-social!

In order to be subject to federal income taxes, a small business must have annual business receipts of $1,000. So much for Billy’s lemonade stand. However, rather than gnash your teeth every tax season, be glad you made enough income to file!

A small business is defined as an enterprise that has fewer than 500 employees. So technically, that kid who opens his lemonade stand on the corner every summer is a small business owner. Except…