American entrepreneurship is apparently on the decline, according to a recent article from FiveThirtyEight, but small business owners report consistently high levels of satisfaction with their choices despite the financial difficulties that they have faced.
“Americans started 27 percent fewer businesses in 2011 than they did five years earlier, according to data from the Census Bureau,” writes Ben Casselman on FiveThirtyEight. As a share of all companies, startups have been declining for more than 30 years.”
Decline in new businesses seems to track aging baby boomers
For some reason, Cassleman briefly mentions and then ignores one of the most obvious reasons why this thirty year trend might be happening. Young adults are more likely to start new businesses than older people,...
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