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We have a giant jump in the number of new businesses now. A majority of them are more spontaneous and less well conceived by people with much less experience

We have a giant jump in the number of new businesses now. A majority of them are more spontaneous and less well conceived by people with much less experience with all aspects of running your own business. I read that there have been several 100.000 of new business registered. All of those will have to try and climb on top of each other to be heard. Let us say that 1000 new mobile dog grooming business have been started in Denver. They all need a van and equipment. There are already 100 mobile dog grooming businesses, some do very well with an established clientele, a known name, and organic growth from happy businesses. Others do not. How will all the new dog groomers be heard? Who will be inventive enough or rich enough to hire someone, to create a solid and successful marketing campaign? Traditionally on average 20% of new business fail within the first year. (Depending on type of business, some fail more often than others). I predict we will see solid increase how many businesses fail. A lot of people will lose their savings. Unless something drastic changes a lot more will be without health insurance. Within 6 months to 2 years there will be a horde of people who wish to return to being an employee of an established business, while being worse off financially. I hope I am wrong. (All numbers used about dog groomers are made up. Pure fiction)

jaypeg25 5y ago
Looking at the chart toward the top of the article, I couldn't help but get a similar feeling. A huge spike of self employed workers in the early 2000's that preceded the crash and Great Recession. I'd be curious to see statistics on what these self employed workers were doing in 2004-2007, but I assume many of them got into the idea of flipping houses? Either way, I worry that in a few years time we'll see a market correction of all these self employed workers and I wonder what its impact will be. Will they just go back to corporate life? Will it even be that easy to do so?
PeterisP 5y ago
There's lots of money to be made there - in your examples, the people selling used vans (and then re-buying them cheaply from new companies going out of business), and the internet megacorps selling advertising to all the dog groomers trying to be heard. In a gold rush, most of the miners get nothing, but the people selling shovels can have a good business.
daddylongstroke 5y ago
Like everything else, this is very relative to locality. You'd be shocked at how hard it is to find any service business (pick one: plumber, well work, electrician, tree removal, etc.) to even come out to do an estimate in my area. I do a lot of tree-work for my neighboors simply because there is nobody else willing to do it. From talking with family and friends, it seems to be a common problem.
- HeyLaughingBoy 5y ago
  I can think back 15 years ago to a friend -- a software test engineer -- who started a handyman business on the side, hearing the same complaint from his clients. 90% of success is just showing up!

jaypeg25 5y ago

Looking at the chart toward the top of the article, I couldn't help but get a similar feeling. A huge spike of self employed workers in the early 2000's that preceded the crash and Great Recession. I'd be curious to see statistics on what these self employed workers were doing in 2004-2007, but I assume many of them got into the idea of flipping houses? Either way, I worry that in a few years time we'll see a market correction of all these self employed workers and I wonder what its impact will be. Will they just go back to corporate life? Will it even be that easy to do so?

PeterisP 5y ago

There's lots of money to be made there - in your examples, the people selling used vans (and then re-buying them cheaply from new companies going out of business), and the internet megacorps selling advertising to all the dog groomers trying to be heard. In a gold rush, most of the miners get nothing, but the people selling shovels can have a good business.

daddylongstroke 5y ago

Like everything else, this is very relative to locality. You'd be shocked at how hard it is to find any service business (pick one: plumber, well work, electrician, tree removal, etc.) to even come out to do an estimate in my area. I do a lot of tree-work for my neighboors simply because there is nobody else willing to do it. From talking with family and friends, it seems to be a common problem.

HeyLaughingBoy 5y ago
I can think back 15 years ago to a friend -- a software test engineer -- who started a handyman business on the side, hearing the same complaint from his clients. 90% of success is just showing up!