- December 17, 2021
- Posted by: Stratford Team
- Category: Business
U.S. Census Bureau data reveal that entrepreneurs applied for federal tax-identification numbers to register 4.54 million new businesses between January and October, up 56 percent from the same period of 2019.
According to the Wall Street Journal, that was the largest number on record dating back to 2004.
In a recent article, the Journal said that two-thirds of the tax-ID-number applications were for businesses that are not expected to hire employees.
“Workers quit jobs in droves to become their own bosses” was the headline. However, the article did not delve into questions for the short and longer time frames. Those questions include:
¯ How many — or what percentage — of the new crop of well-meaning entrepreneurs are likely to fail in their endeavors within a year or two, or perhaps more quickly?
¯ What percentage might be expected to be back working for some other boss five years from now, perhaps after having…
