A recent posting by Jim Hopkins of USA Today’s Small Business Connections stated that self-employment figures tanked in December, the lowest single drop in the past 10 years.
“I don’t know why last month brought such a big decline. On the other hand, I don’t place too much emphasis on a single month’s change because the sample used to gather these self-employment figures is relatively small. Still, it’s one of the few current barometers of entrepreneurship.” read his article.
So why the big drop? There doesn’t seem to be any hard evidence, but my feeling is that may be linked to other factors as well. For instance, spending is outpacing income, accounting for record low savings rates, competition is greater, and many people go out on their own who don’t have the experience, knowledge, skills or enterpreneurial qualities to be successful. Being the beginning of the year, it’s a time when people often re-evaluate what’s happening in their lives, and if they haven’t been making enough working for themselves, or having a hard time doing it, it makes sense that they might throw in the towel before the new year begins.
Your thoughts? If you or someone you know has recently thrown in the towel, or is thinking of doing so, please send me your comments.
-Susan Martin, NYC Business Success Coach
