Small businesses are in Decline - Objectivum Docs

2 years ago
37

Small Businesses are in decline and losing market share to the mega corporations. In this video I provide proof of this. There is not much that we can do other than educate ourselves and put pressure on our politicians to do something about it. The more people are aware of the statistics behind this, the better chance something will change.

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0:00 Intro: Previous Video and Why Small Businesses are Important
0:24 Small business is 24% of the economic activity
0:49 16 times more patents by Small Businesses
1:02 Percent of Employees Large vs Small and Jobs Created by First less than 1 year old
1:13 Share of Firms less than 1 yr. old and share of workers at firms less than 1 yr. old
1:23 Millenial Start-Up Rate
1:30 Most Counties seeing fewer businesses annually
1:37 The Good News: Startup Success Rates have stayed the same
1:51 Hard to Find Counter Arguments
2:16 Counter Argument: More efficient large businesses are better for consumers
2:24 Amazon CPI
2:45 Large companies often raise prices once competition is eliminated
2:52 Prime Price raise
3:04 The BAD SIDE of low prices, terrible working conditions
3:20 Outro

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Sources:
Small businesses 44% of economic activity
https://advocacy.sba.gov/2019/01/30/small-businesses-generate-44-percent-of-u-s-economic-activity/#:~:text=WASHINGTON%2C%20D.C.%20%E2%80%93%20Small%20businesses%20are,percent%20of%20U.S.%20economic%20activity

16 times more patents by small businesses
https://www.sba.gov/sites/default/files/FAQ_Sept_2012.pdf

percent of employees at large firms versus small firms, and the jobs created by firms less than 1-year-old
https://www.bls.gov/bdm/entrepreneurship/entrepreneurship.htm

Startup up formation commerce department chart
https://jobmarketmonitor.com/2016/10/26/job-growth-in-us-startup-businesses-at-historically-low-rates/

Millennial startups and business growth by US county
https://eig.org/news/u-s-senate-hearing-on-the-decline-of-american-entrepreneurship

Success rates
https://advocacy.sba.gov/2019/01/30/small-businesses-generate-44-percent-of-u-s-economic-activity/#:~:text=WASHINGTON%2C%20D.C.%20%E2%80%93%20Small%20businesses%20are,percent%20of%20U.S.%20economic%20activity

Reasons for amazon shopping consumers poll
https://www.statista.com/statistics/670499/us-amazon-usage-reason/

Amazon CPI
http://thewire.fiig.com.au/article/2017/06/20/introducing-the-amazon-inflation-index

Amazon october 21 price rise
https://www.adn.com/nation-world/2021/11/26/higher-prices-on-amazon-cause-a-retail-ripple-effect/

Prime price increase
https://www.cbsnews.com/essentials/amazon-prime-price-increase-old-rate-119-dollars/

Script:
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In a previous video I talked about how the US has a growing issue with companies essentially becoming outright monopolies, and the regulators looking the other way. As a follow-up to that, I thought I would see how much this is affecting small business startup rates and success levels.

Why is it important to know the health of small businesses in the US? Well, the statement that “small businesses are the backbone of the economy” has some truth to it. Small businesses still account for 44 percent of the economic activity in the US, according to the Small Business Administration. While this number is in decline, with small Small business share

#Objectivum #SmallBusinesses #Monopolies

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