The US Jobs ACT fostering business start-ups through investment
April 28, 2014
Its fast becoming the million dollar question as small business and start-up entrepreneurs across the United States come to realise that the passing of the Jumpstart Our Business Startups (JOBS) Act has real positive meaning for them.
For the last eigfht years the US has been experiencing a prolonged receision with some sectors and regions impacted more than others. Unemployment had steadily rise. and it seems light is finally beginning to appear at the end of the tunnel with crowd funding now giving business start-ups a clear boost.
The small busienss sector accounts for a large swathe of the economy. According to the US Small Business Administration:
The 23 million small businesses in America account for 54% of all U.S. sales.
Small businesses provide 55% of all jobs and 66% of all net new jobs since the 1970s.
The 600,000 plus franchised small businesses in the U.S. account for 40% of all retail sales and provide jobs for some 8 million people.
The small business sector in America occupies 30-50% of all commercial space, an estimated 20-34 billion square feet.
Furthermore, the small business sector is growing rapidly. While corporate America has been "downsizing", the rate of small business "start-ups" has grown, and the rate for small business failures has declined.
The number of small businesses in the United States has increased 49% since 1982.
Since 1990, as big business eliminated 4 million jobs, small businesses added 8 million new jobs.
The Jobs Act was designed to foster and encourage small business by increasing ways and means of accessing funding by the removal and easing of federal regulations that now allow individuals to become investors.
This has happened at the same time as the rise of crowd funding sites and platforms across the US assisting in helping everything from pure business start-ups, one of activities or projects, social enterprises and not for profits.
So, the best way to explain the Jobs Act in more detail is by way of an infographic from the team at Fundable!
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