Free Enterprise to Thrive in New Millennium

By Neese, Terry | THE JOURNAL RECORD, June 7, 1996 | Go to article overview
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Free Enterprise to Thrive in New Millennium


What will small business look like in the year 2000? Will America's free enterprise system continue to be the envy of every nation? Will owning a business of your very own continue to be a dream that literally millions of people seek?

One thing is for sure. It is an exciting time to be in business or dreaming about owning your own business. Never before have there been so many opportunities to dream up innovative futuristic businesses that very few people would have thought of even 10 years ago.

Office equipment, communication devices, environmental services, and other resources in business have changed so much.

Just one example is the typewriter. Only five years ago, companies were testing applicants applying for clerical work on a typewriter. Today, you can't find a typewriter in an office.

With the combination of technology and the new telecommunications reform act, thousands of new types of companies are being generated. Add to that, the "rightsizing" of corporate America, and you experience thousands of people in the job market trying to figure out what they are going to do for the rest of their lives.

Many of these people who find themselves a victim of "rightsizing" are choosing to be a consultant and starting their own business.

With this downsizing of corporate America continuing into the year 2000, new concepts like contracting out to smaller firms will be developed. So in contrast to the downsizing of corporate America, entrepreneurs will be taking the economy by storm.

The U.S. Department of Labor reports that in the first nine months of 1995 along, more than 639,849 new businesses were established -- 3.6 percent more than in the same period of the previous year. Additional good news from Dun & Bradstreet Corp., is a report that business failures are declining.

What types of businesses are being generated out there as we move into the new millennium?

Obviously, high-tech areas are a hot niche market. In addition, exports, retailing and services are some of the areas where small business growth will continue.

According to Coopers & Lybrand, a recent survey of 400 of the fastest growing U.S. companies showed that 47 percent are selling abroad and 6 percent of the companies plan to enter international markets during the next year.

Some industry sectors where sales are projected to explode are in the local-area-networking services for computers, software manufacturing and telecommunications equipment and services.

An estimated growth rate of 42 percent is expected in computer goods associated with local area networks.

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Free Enterprise to Thrive in New Millennium


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