America’s Small Businesses: Most Shocking Facts

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Small businesses, defined as companies with 500 or fewer employees, play an important role inAmerican economy. They employ 57% of the private workforce and create 60% to 80% all new jobs in the country.

However, there are some shocking facts about them you may not have known before.

For example, small businesses pay 44% of U.S. payroll, or only 50% of small businesses survive five years.

Before reading the facts, let's remember what former Apple CEO Steve Jobs said when he explained the rules for successes. “You need a lot of passion for what you're doing because it's very hard…Without passion, any rational person would give up.”

The United States has 28 million small businesses that outnumber corporations 1162 to 1

Small businesses employ 57% of America’s private workforce, 70% of them are owned and operated by single persons

Small businesses pay 44% of U.S. payroll

Northwestern states including Montana and Wyoming depend more heavily on small businesses

Starting a business in the US needs just six days in comparison with a whooping 38 days in China, followed by India with 30 days and UK and Ireland with 13 days

Starting a business in India costs 6x more than that in the US

Only 50% of small businesses survive five years

Immigrants account for 12.5% of small business owners nationwide

A small business probably won't survive of it can't resume operations within 10 days after a natural disaster

Small businesses create 13x more patents per employee than large patenting companies

A small business in the US went bankrupt every 8 minutes in 2009

Only 2% of small businesses are franchises, and most (54%) are home-based

60 to 80% of all new jobs come from small businesses

The 77 million joining the US small business workforce would rank as the world’s 17th most populous country, just ahead of Iran

My Neighbor, Steve Jobs

This article first appeared in Palo Alto Patch.

My neighbor, Steve Jobs, has been in the news lately. The talk of the town is the recent announcement he will be stepping aside to let other seeds grow at Apple. The business press, the general press, the blogosphere, and just about everybody else has waxed poetic about the “greatest CEO of all time” saying that this “boy wonder” has shaped the very nature of our lives with his genius. 

It’s all true, but here in Palo Alto, Steve Jobs isn’t just an icon, he’s also the guy who lives down the street.
I first met Steve (does anyone call him Mr. Jobs anymore?) years ago at a backyard pool party. I was so flummoxed by the off chance I was breathing in his DNA, I could barely say a word. I am sure I made a winning first impression as I stumbled over my own name when we were introduced.
I watched as he swam in the pool with his son. He seemed like a regular guy, a good dad having fun with his kids.
The next time I met him was when our children attended school together. He sat in on back-to-school night listening to the teacher drone on about the value of education (wait, isn’t he one of those high-tech gods who didn’t even graduate from college?) while the rest of us sat around pretending having Steve Jobs in the room was totally normal.
Not long after, I saw Steve as I was running in our neighborhood. He was deep in conversation with a younger version of himself — his very own mini-me in jeans, black tee-shirt, and wire-rimmed glasses. I must have looked like an idiot as I tripped over a crack in the pavement trying to give them wide berth.
It was at Halloween not long after when I realized he actually knew my name (yes, my name!). He and his wife put on a darn scary haunted house (to be specific, a haunted garden). He was sitting on the walkway, dressed like Frankenstein. As I walked by with my son, Steve smiled and said, “Hi Lisen.” My son thought I was the coolest mom in town when he realized The Steve Jobs knew me.
Thanks for the coolness points, Steve.
From then on, when I saw him holding his executive meetings in our neighborhood, I didn’t hesitate to smile and say hi. Steve always returned the favor, proving he may be a genius, but he is also a good neighbor.
In time, things changed. The walks were less frequent, the gait slower, the smile not so ready. Earlier this year when I saw Steve and his wife walking down our street holding hands, I knew something was different. Now, so does the rest of the world.
While Newsweek and the Wall Street Journal and CNET continue to drone on about the impact of the Steve Jobs era,  I won’t be pondering the MacBook Air I write on or the iPhone I talk on. I will think of the day I saw him at his son’s high school graduation. There Steve stood, tears streaming down his cheeks, his smile wide and proud, as his son received his diploma and walked on into his own bright future leaving behind a good man and a good father who can be sure of the rightness of this, perhaps his most important legacy of all.

Steve Jobs Quotes

A lot of companies have chosen to downsize, and maybe that was the right thing for them. We chose a different path. Our belief was that if we kept putting great products in front of customers, they would continue to open their wallets.
Steve Jobs

Apple's market share is bigger than BMW's or Mercedes's or Porsche's in the automotive market. What's wrong with being BMW or Mercedes?
Steve Jobs

Be a yardstick of quality. Some people aren't used to an environment where excellence is expected.
Steve Jobs

Design is not just what it looks like and feels like. Design is how it works.
Steve Jobs

I think we're having fun. I think our customers really like our products. And we're always trying to do better.
Steve Jobs

I want to put a ding in the universe.
Steve Jobs

Innovation distinguishes between a leader and a follower.
Steve Jobs

It is piracy, not overt online music stores, which is our main competitor.
Steve Jobs

It took us three years to build the NeXT computer. If we'd given customers what they said they wanted, we'd have built a computer they'd have been happy with a year after we spoke to them - not something they'd want now.
Steve Jobs

Pretty much, Apple and Dell are the only ones in this industry making money. They make it by being Wal-Mart. We make it by innovation.
Steve Jobs

Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.
Steve Jobs

The people who are doing the work are the moving force behind the Macintosh. My job is to create a space for them, to clear out the rest of the organization and keep it at bay.
Steve Jobs

To turn really interesting ideas and fledgling technologies into a company that can continue to innovate for years, it requires a lot of disciplines.
Steve Jobs

You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new.
Steve Jobs

PRESS RELEASE: Letter from Steve Jobs

 August 24, 2011–To the Apple Board of Directors and the Apple Community:

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.
I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.
As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.
I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.
I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.

Apple’s Worth Equals that of all Euro Zone Banks

Apple’s increasing net worth is something we are all familiar with. But because of other companies not going through an equally progressive phase, Apple’s progress relatively seems much amplified. A perfect example of this is what resulted from the fall of shares prices of many Euro zone banks.

As a result of the fall in the share prices of many prominent Euro zone banks – Spain’s Santander , France’s BNP Paribas , Germany’s Deutsche Bank (DBKGn.DE) and Italy’s Unicredit, and others – Apple is now worth as much as the 32 biggest Euro zone banks!
After the 4% fall in the DJ STOXX euro zone banks index, the zone’s 32 banks were valued at $340 billion. That amount is actually based on the capitalization of the banks’ free float shares.
Comparatively, Apple’s market capitalization has increased to $340 billion, all thanks to its iOS devices.
Since July, the index is down to two-thirds of its original value. The banks stand to lose billions from holding of euro zone government bonds and the inability of leaders to prevent the Euro zone debt crisis spreading.

Top Important News Brands in Next Decade

The top important news brands will still matter over the next decade including the New York Times, Google, Facebook, Twitter and Yahoo. Their products have attracted a huge amount of people all over the world.

 

Twitter

Over the next decade, Twitter will be a more useful tool for reacting and reading to breaking news. It also helps reports the news via eyewitnesses, photos and videos. For instance, the first image of the US Airways crash on Hudson River was posted on Twitter by Twitter user Janis Krum. Besides updating information fastest, the social networking service has given birth to several new brands.

Twitter user Janis Krums could send a picture of the Airbus 320 landing in the Hudson River with the help of image service Twitpic

 

The New York Times

The New York Times will still exist as one of the most vital news brands for a long time thanked to the right technology and business decisions. Its name and product are very common all over the world

 

Google

Though Google News of the world’s biggest search engine is rather boring, it is still a huge product with numerous users, and will be improved over the next decade

 

Facebook

Facebook's news feed has also been one of the world’s most important information distribution platforms, especially for local news as traditional local media brands fade

 

Bloomberg

Bloomberg is trying to prove that they do financial news better than any other media company by collecting accurate news and information as quickly as possible. However, the company has to battle with more rivals in the future

 

Yahoo

Yahoo is still one of the world’s biggest web portals and will continue to be named among top important news brands. Its notable products include Yahoo News, Yahoo Finance and Yahoo Sports

 

CNN

As for millions of readers around the world, CNN is all they care about because it is solid, approachable and reliable. Its name is still synonymous with quality news coverage and the news brand will become huger over the next decade