3 Things You Should Know About Small Business: May 30
NEW YORK (MainStreet) -- What's happening in small business today?
1. Life for an entrepreneur after selling your company. Inc.com published entertaining thoughts by OkCupid's co-founder Sam Yagan who, after selling his company for $50 million this year to IAC, the parent company of competitor Match.com, wonders if his identity will be lost if he remains in the corporate culture.
OkCupid was actually Yagan's third time at starting a company. He says while there are certainly perks to being a part of a big executive team (like being able to go on vacation, for instance) "all I know how to do is start companies. What do I say when people ask me what I do? I work for a big company? I mean, a lot of people do. It's great. But it's almost like having a sex-change operation. Part of me is like, What's my identity, if it's not the company I'm building?"
Yagan seems to be struggling with whether he can still have worthwhile experiences even as part of a big company, but while entrepreneurism is still appealing, he seems to make the case for himself to stick with the corporate job -- for now.
2. Is small business revenue back to pre-recession levels? The Intuit(INTU) Small Business Indexes show there was tentative revenue growth and employment growth in May, however, there needs to be at least two more years of similar employment growth to reach pre-recession levels.
The monthly data is based on approximately 78,000 small businesses customers of Intuit Online Payroll.
Businesses with fewer than 20 employees created 40,000 jobs in the four-week period ending May 23, according to initial estimates by Intuit. Intuit revised its April employment numbers upward to 60,000 from 40,000, based on national employment data from the Bureau of Labor Statistics.