How to Start a Small Business: FindLaw Press Release
FOR IMMEDIATE RELEASE
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A Majority of Americans Have Started or Considered Starting Their Own Business, Says New FindLaw.com SurveyFree Internet resources help entrepreneurs
EAGAN, Minn., March 20, 2009 - If you've ever found yourself saying: "I should start my own business," you're not alone. Most Americans say they have at least considered starting their own business, or have actually done so at least once in their life. According to a new survey by FindLaw.com ( http://www.findlaw.com ), the most popular legal information Web site, 61 percent of Americans have either started or thought about starting a small business.
- Thirty percent of Americans say they have started at least one small business.
- An additional 31 percent of Americans have thought about starting their own business at some point in their lives.
- Only 39 percent of Americans say they have never started, or even considered starting, their own business.
Small businesses are an important part of the economy, generating a significant portion of new jobs. Small businesses (defined as 500 or fewer employees) employ about half of all U.S. workers and have generated more than half of net new jobs annually over the last decade, according to the Small Business Administration. There are an estimated 20 million businesses in the U.S. that consist of only the owner with no additional employees.
"Owning your own business is a dream that many people have and that many people act upon," said Stephanie Rahlfs, an attorney and editor at FindLaw.com. "Even in difficult economic times, people often take advantage of opportunities to start a business where they see unmet needs, a chance to turn a personal passion or interest into a business, or because they want to have more control and responsibility over their work life.
"Starting a business involves many legal and regulatory requirements, including state and local licensing and registration, taxation, zoning, intellectual property and financing," cautions Rahlfs. "Knowing what the requirements are, what information you'll need, and where to find good advice and help are essential. Research has found that businesses that make it through the first four years have a much better chance of lasting long-term."
Free Internet resources, such as the FindLaw Small Business Center ( http://smallbusiness.findlaw.com ), can provide helpful information on starting and managing a small business. The FindLaw Small Business Center covers first steps for starting a business, incorporation and business structures, business laws and regulations, finance, taxes, business forms and contracts, and a directory for finding attorneys who specialize in small business. The FindLaw survey was conducted using a demographically balanced telephone survey of 1,000 American adults and has a margin of error of plus-or-minus three percent.
Note to editors: Full survey results are available upon request.
FindLaw, part of Thomson Reuters, is a leading provider of free intelligent legal information, online marketing and client development services providing the legal industry and consumers with the knowledge to act. FindLaw.com is the most popular legal Web site with nearly four million consumers visiting each month for free information about a legal topic, to solve a legal problem, or to find a lawyer. The FindLaw team of designers and engineers create results-oriented Web sites for individual attorneys and law firms. FindLaw Web sites are strategically designed to attract and retain clients, as well as support lead generation by leveraging dynamic content and industry leading marketing tools. Attorneys can also be prominently listed on www.FindLaw.com, home to the largest online directory of lawyers that assists consumers in finding an attorney by practice area.
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minn., Thomson Reuters employs more than 50,000 people in 93 countries. Thomson Reuters shares are listed on the New York Stock Exchange, Toronto Stock Exchange, London Stock Exchange and Nasdaq. For more information, go to www.thomsonreuters.com.