Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

One Million New Non-Employer Businesses


Just out from the Census: The U.S. added a million new non-employer businesses in 2007, for a total of 21.7 million. Together these businesses had sales of nearly $1 trillion — that’s about 7% of US GDP in 2007. Most of these are self-employed individuals with sole proprietorships, though the Census recorded 1.4 million corporations with no employees and 1.2 million partnerships.

I think the long-term trend here is clear: More people working for themselves instead of (or in addition to) being employees. My gut sense is the recession is creating even more entrepreneurs as laid off workers go into business for themselves. Census data is always a couple years behind, and it will be interesting to see whether the numbers from 2008 and 2009 bear this out — and whether it’s a significant, permanent change or a temporary response to the job market.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus