July 2, 2013 AT 7:15 am
The Rise Of The Million Dollar, One-Person Business #makerbusiness
The Rise Of The Million Dollar, One-Person Business @ Forbes.
For most people who start a one-person business, riches don’t follow. The U.S. Census Bureau’s recently released annual report on “non-employer” businesses found that there were 22.5 million “nonemployer firms” in 2011. They had average revenues of $44,000. That’s in the ballpark of the average annual wage in the U.S. of $45,790, though, of course, any overhead the owners must pay comes out of their revenue.
But for some of these one-man or one-woman shops, running a microbusiness is very lucrative. If you’re thinking about going into business for yourself, and worry about how you’ll pay the bills or support your dependents, you may find these statistics about non-employer firms inspiring. Typically, the businesses in this study were sole proprietorships, but a small percentage were partnerships and corporations.
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