Politicians talk a lot about job creation in America and the media focuses on the nation's big business, when the real spotlight should be on successful small businesses - like medical practices.
“The world is moved along, not only by the mighty shoves of its heroes, but also by the aggregate of the tiny pushes of each honest worker.”
— Helen Keller
Politicians talk a lot about job creation in America — most of the debate is complete nonsense. And mindless media types too often focus on the workings and failures of the nation’s big businesses, when the real spotlight should be on the true backbone of our economy: successful small businesses.
Despite some clear shifts, that hard-working and unsung group includes the majority of practicing physicians. Despite the immense challenges of professional medicine today, doctors do a superior job of succeeding in the health care business area. According to Bizstats.com, more than 90% of all U.S. medical practices were profitable last year. And while the docs might wonder if the profits really get to them, they can take some solace in that fact that they are vital element in our growing economy.
That America’s small businesses are the real engine of our nation’s commerce is undeniable:
• U.S. small businesses account for about 55% of all sales.
• U.S. small businesses provide 55% of all jobs and 70% of all net new jobs.
• The U.S. small business sector occupies nearly 50% of all commercial space
• The number of U.S. small businesses has increased about 50% since 1982.
• Since 1990, as big business cut 4 million jobs, small businesses added 8 million new jobs.
But there are concerns.
“Small-business owners are optimistic by nature, but they are not encouraged by the current state of our economy. They have been plagued by economic uncertainty for years, and now with the expectation of new costs, taxes and regulations to come, there is little incentive for them to expand and hire new employees,” Dan Danner, chief executive officer of the National Federation of Independent Business (NFIB), told The Washington Times in a March 2012 interview. “Until Washington shows Main Street that it is ready to listen and address the needs of the small-business community, our economy will continue its slow and incremental recovery.”
A recent NFIB survey revealed the major concerns of U.S. small business owners were all government-induced problems: cost/availability of insurance, excessive government regulation and high taxes.
Sound familiar, doctors?