A study by the Kaufman Foundation indicates that entrepreneurial activity increased in 2008, to the highest level since the group began tracking such statistics in 1996. The specifics as to what types of businesses were started, however, indicate that much of this is due to people not having enough work and needing income in the downturn. One question often asked by those considering a new business is: what kinds of permits or licenses do I need?
- A higher percentage of Americans started new ventures than any year since the Kaiser Foundation tracked new venture start-ups in 1996;
- The percentage of these new ventures in "high income potential" industries (such as high-tech) went down, with more ventures in lower income industries (indicating more "necessity entrepreneurs");
- The percentage of new business starters without a high school diploma jumped dramatically, while the percentage with college degrees went down; and
- Construction had the most new ventures, with service industries second.
As illustrated in yesterday's run-down of some new venture ideas of FindLaw users, the types of new businesses people consider starting are only limited by the imagination. A question common to many of them is what types of permits or license are required.