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Charted: The Survival Rate of U.S. Businesses (2013-2023)

Only 34.7% of Businesses Survived Between 2013 and 2023 This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. During the pandemic a record number of Americans turned entrepreneurs—sending new business applications to soaring heights. But everyone […]

Bankrupt, bust or giving up: businesses shutter at pandemic levels

CreditorWatch chief economist Ivan Colhoun said businesses were facing the same cost pressures as consumers, including higher electricity, insurance and rental costs. “Together with some greater caution in discretionary spending and softness in interest-rate-sensitive sectors of the economy, this unsurprisingly has led to higher voluntary business closures and some rise in insolvencies,” he said. Loading […]

Government contracts can change the game for for small and underrepresented businesses

This is a guest post by Tony Bridges, assistant secretary for the Maryland Department of Transportation.  For small businesses and those owned by people from traditionally underrepresented backgrounds, securing government contracts can change the game.  Government contracts provide businesses with a steady revenue source, credibility and the chance to expand into new markets. And prime […]

Beneficial Ownership Information (BOI) Reporting Requirements for Small Businesses – NerdWallet

Millions of small-business owners are impacted by the Jan. 1, 2025 deadline for beneficial ownership information (BOI) reporting under the Corporate Transparency Act[0]. The Corporate Transparency Act aims to prevent illegal activities (e.g. money laundering, fraud, funding terrorism) by requiring businesses to disclose which individuals own their companies. Affected businesses must submit a BOI report […]

Which Candidate’s Tax Plan is Better for Small Businesses? Here’s What You Need to Know. | Entrepreneur

Opinions expressed by Entrepreneur contributors are their own. The election promises to bring more tax ramifications than any other election in recent history. It presents an opportunity to rethink the tax code, potentially making it more pro-growth by moving away from income-based taxes towards consumption-based models. Such reforms could increase savings and capital investment, fostering […]