Business Formation Drops 10% In Wealthiest Countries

The WSJ is reporting that over the past year, business formation has dropped 10% in the wealthiest countries in the World, and 24% in the United States alone!

Contributing to this are two core factors. First, is a lack of ability to get funds. To start most businesses, you need plenty of start up capital. But with recent changes in the loan industry, entrepreneurs are finding it harder to get money.

The second factor is that with a down economy, people are less likely to ditch a steady paycheck in favor of "living the dream". Let's face it, if you have a family with young children, it's virtually impossible to take the risk of starting a new business venture.