Outside the Valley

Single-person businesses top 20 million

By Will | July 30, 2007

Person breaking free 3 In the ‘60s the saying was “turn on, tune in, drop out”. Well, that didn’t last, but today, we have the corporate version happening.

The “Drop Out” part meant that individuals would pursue self-reliance, choice, and change for themselves. Right now, the US Census Bureau reports that over 2,000 people a day in the US are going into business for themselves. They are heading for hitting a trillion in revenue per year, also.

They are leaving behind the traditional corporate culture for the single-person company.

Also included in the report are the fastest growing areas, which include:
Web search portals (41.2 percent)
Internet service providers (16.6 percent)
nail salons (18 percent)
electronic shopping and mail-order houses (12 percent)
recreational vehicle dealers (12.1 percent)
landscaping services (11.1 percent).

The US Census bureau reports:

A daily average of 2,356 people went into business for themselves as the nation’s number of businesses without a payroll reached 20.4 million in 2005, the U.S. Census Bureau announced today.

According to Nonemployer Statistics: 2005, the addition of 860,000 firms where an owner ventures outside the typical business culture of bosses and employees increased 4.4 percent over a one-year period. Businesses without paid employees, known in the business industry as “lone wolves,” had receipts of $951 billion and make up approximately 78 percent of the nation’s 26 million-plus firms.

The report has data on 17.7 million individual proprietorships, more than 1.3 million corporations and 1.3 million partnerships. Nonemployer firms may be run by one or more individuals and can range from home-based businesses to corner stores or construction contractors. These firms are often part-time ventures with owners operating more than one business.

Among the fastest-growing industries are Web search portals (41.2 percent), Internet service providers (16.6 percent), nail salons (18 percent), electronic shopping and mail-order houses (12 percent), recreational vehicle dealers (12.1 percent) and landscaping services (11.1 percent).

The District of Columbia led the nation in the growth of these small businesses with a 9.6 percent increase between 2004 and 2005, followed by Nevada at 7.7 percent and Florida with a 7.6 percent growth rate.

US Census Press Releases.

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