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Record 16 Million New Small Business Boom Continues Three Years in a Row

FOR IMMEDIATE RELEASE: January 12, 2024
CONTACT: Kristofer Eisenla, LUNA+EISENLA
kristofer@lunaeisenla.com  | 202-670-5747 (mobile)

NASE Applauds the Continued New Small Business Surge Suggesting the Economic Transformation of the American Workforce Continues to the Be Your Own Boss Movement

WASHINGTON, D.C. – With the Administration’s announcement that the United States has set a new record of 16 million new small business applications over the last three consecutive years, Keith Hall, president and CEO of the National Association for the Self-Employed (NASE), today celebrated this milestone by commenting that “America’s small business community kicks off the new year with a record trend in new small businesses – with entrepreneurs who want more control over their own lives and to be their own boss.”

“The consistent, record-shattering rate of small businesses surging throughout the nation is great news for not only our community, but also our local and national economy,” said Keith Hall, president and CEO of the National Association for the Self-Employed (NASE), the nation’s leading advocate and resource for the self-employed and micro-business community. “Year after year, in every economic measurement tool, the American small business community continues to grow at a rapid, record-setting rate with more entrepreneurs who want to invest directly in their own lives.  New small businesses popping up across the nation now has hit an all-time high with three consecutive years of a record 16 million new small business applications. This just speaks volumes about the resilience, determination, and perseverance of those in the small business community, including the millions of solo entrepreneurs, mom-and-pop shops, and gig-economy workers who are the heartbeat of our nation.”

Over the last few years, there has been a continued surge in new small business applications reported by both the Small Business Administration (SBA) and the Census Bureau, in addition to last year’s Yelp report illustrating every state was on track to beat the prior year’s all-time high.

“What we are seeing at the national level tracks with our own membership, where more individuals are opening their own small business realizing their own entrepreneurial dream.  As more leave W-2 employment to start their own small business, it is important they adhere to the obligations and responsibilities, as well as reaping the benefits, of their new venture. We stand ready to help them through their journey, while also encouraging our policymakers to create an equitable regulatory environment for our community to save, grow, and expand.”

Late last year, Hall reacted to a recent report indicating the employees of small businesses are among the happiest by saying, “America’s small business owners are finishing out the year incredibly optimistic about the future of their business with their employees happy and satisfied and even more new applicants joining our ranks every day.  The last few years are turning out to be record-breaking years on all fronts for our country’s small business community, the lifeblood of our nation’s economy.”

NASE advocates and gives voice to America’s smallest employers, the self-employed and micro-businesses, before our elected leaders in Washington. In addition, NASE serves as a critical resource for new and existing small businesses in their operations. Specifically, NASE offers a robust Growth Grant program – sponsored by AARP, DELL Small Business, and Payanywhere – to Ask The Experts business and tax advice and the NASE Minute video with free business advice online to both members and the public. The association’s goal is to support the small business community to help them to grow and thrive.

To Speak with Keith Hall, please contact Kristofer Eisenla at kristofer@lunaeisenla.com

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The National Association for the Self-Employed (NASE) is the nation's leading advocate and resource for the self-employed and micro-businesses, offering a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy.

The NASE NextBizThing helps identify and connect our nation’s smallest businesses. Need small business help? Check out NASE’s Ask the Experts for advice or the NASE Minute for small business support.

The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association's website at NASE.org