From the looks of all the construction activity in Alpharetta, it looks like times are golden, business is booming, entrepreneurial activity is on the rise, only, entrepreneurial activity is not on the rise in the United States.
I was disturbed to read an article my husband passed on to me, an article by Jim Clifton, the Chairman and CEO of Gallup, who says some unnerving things about business start-ups, aka entrepreneurial activity. Mr. Clifton states: “for the first time in 35 years, American business deaths outnumber business births.” It is a startling statement and the graph he presents, a Gallup graph whose source is the U.S. Census Bureau and Business Dynamics Statistics, confirms it.
The U.S. ranks 12th in terms of business startups, according to Mr. Clifton, behind other developed nations such as Hungary, Finland, Sweden, Italy, Israel and others.
To quote Mr. Clifton once more, “when small and medium-sized businesses are dying faster than they’re being born, so is free enterprise.”
It’s hard to understand the Sanders-esque siren song to demonize corporations when the United States suffers the highest corporate tax rate among major economies. This, combined with a hostile regulatory environment will do nothing to reverse the death rate among small businesses.