“U.S. Business Data Worst in World—and Getting Worse.”
—Jerry Useem, Editor, Inc magazine – 1996
This was the title of an article written by Jerry Useem 19 years ago!—and the situation did indeed get worse.
Government agencies put most of their business statistical energies into only 17% of all businesses in the U.S. and come up with information that is generally a couple of years old—or older.
The business community is even worse, because they can’t even decide what the definition of a business is, let alone what’s happening to them.
It seems that very few people even care what happens to small businesses as long as new ones are always coming along to replace those that die… hopefully quietly and alone.
That’s why I created a report—Business Survival Reality: The Mystery of Business Births and Deaths in the U.S.—that I update annually.
In this report I try to make some sort of sense out of the lack of information, and the misinformation, published by government agencies, business pundits, and guru economists.
Usually, I release this report in early June, but this year I circulated it among some of my colleagues, and others, to preview and make comments before I released it to the public.
Generally, the response was one of disbelief—no way could the numbers be that high. They didn’t question my approach, just the magnitude of the problem.
If this report holds up under additional scrutiny, it would indicate that Donald Trump was right in one of his speeches when he said the “American Dream is dead.”
If you take the time to download a copy of the report and read it, you will likely be skeptical of the numbers as well—and I welcome any suggestions you might have as to a better approach than the one I took.
On the other hand, if the numbers in this report are anywhere near realistic, our country is throwing away a terrific opportunity to rebuild itself into the great nation it once was— where the “American Dream” was real… and attainable.
Or, we in the business community, in addition to the government, can continue to put our heads in the sand and let our national treasure of entrepreneurs continue to “twist in the wind.”
Download a pdf copy of the report here and then tell me what you think!