In a late March survey, conducted by an accounting technology firm, small business owners were asked if they were living the American Dream. Two-out-of-three small business owners said they were, although they thought the “American Dream” was changing. Small business owners said their American dream includes:
Being self-made,
Owning a business,
Being financially comfortable, and
Providing for their families.
They also want to:
Provide for the future,
Pay off a mortgage,
Push for good causes,
Give employees health and retirement benefits, and
Pay employees higher wages.
According to the IRS Small Business and Self-Employed Division, there are 57 million small business owners and self-employed taxpayers that have businesses with less than $10 million in assets. Over the past 25 years, small businesses have accounted for two of every three jobs created in the United States, reported the Small Business Administration.
If you’re a small business owner and you would like some help with spending, saving, tax, or retirement strategies, let us know. We’re happy to help.