STAT WATCH: The State of the U.S. Startup
By most accounts, the dust from the Great
Recession (officially spanning 2007-2009) has
settled. Businesses are hiring again, payrolls are
increasing (Sept. 2013 U.S. Bureau of Labor
Statistics data) and some cities are emerging as
hot spots for new startups.
Chicago, Website Magazine’s hometown, is certainly one of them. In fact, Built In Chicago (an online community for Chicago startups, entrepreneurs and innovators) reported the Windy City’s digital technology sector had the secondbest quarter ever in capital funding (second only to Q1 2011 when Groupon raised $950 million). During Q3 this year, Chicago digital tech companies raised more than $265 million — a number that is likely much higher due to an undisclosed investment in GrubHub.
“Capital investments like these in Chicago’s growing companies are solid proof that what is happening for our technology sector will have a lasting and substantial effect on Chicago’s economy,” said Mayor Rahm Emanuel. “These companies are creating jobs and the technologies they are developing will shape the future of the city’s economic landscape. I am proud of their success and I look forward to working with all of these companies as they continue to grow.”
Illinois, however, only scored a “C” on the ease of starting a business, according to Thumbtack.com’s “2013 Small Business Survey.” California — home to startup haven Silicon Valley — scored a “D,” while other popular states for tech startups like Washington nabbed an “A-“ and Texas got an “A” — proving not everything amazing is happening in the valley. States with an "A+" are Idaho, Utah, New Mexico and New Hampshire. When it came to best cities, Austin, TX was considered the most supportive of small business owners.
Find more useful data and valuable insights at WebsiteMagazine.com.
In Sep. 2013, eBay Inc. announced it would acquire Braintree for $800 million cash - five years after the payment platform was founded.
The rate of growth in the number of womenowned enterprises over the past 16 years remains higher than the national average. Between 1997 and 2013, the number of women-owned firms grew at 1.5 times the national average, according to the “2013 State of Women-Owned Businesses Report” by American Express OPEN.
Bigcommerce conducted a 2013 survey, finding 30-35 percent of its business client participants were hard at work between 6 p.m. and 8 a.m., indicating new Internet business owners are moonlighting to make their dreams a reality. The largest group of moonlighters (33 percent) came from the south (Florida, Georgia and Texas led the pack), followed by west coast dreamers in Arizona, Colorado and California.
Workers in the United States spend an average of four years at a single job, far lower than the other countries included in 2013 data from the Center for Health and Sciences. Britain’s 8.25 years was the second lowest, and Greece topped out at 13 years.
Today’s CEOs are entrepreneurs themselves, as 57 percent of them have started other companies, prior to their current positions and 47 percent intend to in the future, according to data verified by Statistic Brain.