Starting a small business is a quintessential example of the American Dream in action. It doesn’t matter what the need is that the business is filling; it could be custom coins and keychains , or a niche service the community didn’t know it was hungry for. What is important is that these small businesses grow and thrive in their communities. How many small businesses are in the U.S.? There are approximately 30.7 million small businesses in the United States according to the U.S. Small Business Administration Office of Advocacy, and 59.9 million Americans are employed by small businesses, which is an impressive 47.3% of all United States employees! Of course, not all small businesses are successful. How many small businesses fail? According to the Bureau of Labor Statistics, approximately 20 percent of small businesses fail within one year, 30 percent fail within the second year, and 50 percent fail by the fifth year.
One of the major factors in the success of a new small business is location. The research team at WizardPins has created a compelling data visualization that explores the small-business landscape across America using information from the U.S. Small Business Administration. This graphic can help you choose the best city to start a small business as well as locations to avoid. If you are seeking to start a small business, pin these locations as potential places that could make or break your success!
