{"id":26,"date":"2013-07-25T19:25:00","date_gmt":"2013-07-25T19:25:00","guid":{"rendered":"http:\/\/impactpossible.com\/voice\/index.php\/2013\/07\/25\/the-1099-economythe-new-old\/"},"modified":"2017-06-20T16:16:16","modified_gmt":"2017-06-20T16:16:16","slug":"the-1099-economythe-new-old","status":"publish","type":"post","link":"http:\/\/impactpossible.com\/voice\/index.php\/2013\/07\/25\/the-1099-economythe-new-old\/","title":{"rendered":"The 1099 Economy: The New \u201cOld\u201d Entrepreneurs"},"content":{"rendered":"
\n<\/div>\n
\n<\/div>\n
\nEach year the U.S. Chamber of Commerce Foundation analyzes
\ndata to determine what states have done over the previous year to create jobs
\nand expand the economy.  The analysis is
\nbroken down into two parts, one that discusses what states should<\/u><\/i> be doing and one that details what states are<\/u><\/i> doing and then ranking the
\nstates using a performance, data-driven model. 
\nThe Chamber calls the annual report, Enterprising
\nStates<\/i>, and provides a copy of the 2013 analysis HERE<\/a>.<\/div>\n
\n<\/div>\n
\nThe Enterprising
\nStates<\/i> study found a significant shift in the types of new start ups and
\nentrepreneurs in America since the Great Recession.  The Chamber refers to this new economy as a “1099 Economy,” which reflects an increase in single owner businesses that do not
\nemploy any additional staff and typically work as a consultant or provide professional
\nservices under contract to larger corporations.  The “1099” refers to the tax form these self employed contractors receive from
\ntheir clients that report income \u2013 think of them as W2s for the
\nself-employed.  More than one million
\nself employed contractors have started business since 2005 and some estimate
\nmore than 10 million people operate similar one-person businesses.  This is almost 8% of the national labor
\nforce.  An additional 31 million people
\nclaim self-employment income to supplement their primary job, which represents
\na 52% increase since 2001.  <\/div>\n
\n<\/div>\n
\nOften cited reasons for the growth in these 1099
\nentrepreneurs are layoffs and shutdowns at larger companies that dump older,
\nexperienced workers into the job market where they are unable to find
\nequivalent full-time employment. 
\nHowever, they are able to use their skills, contacts and experience to
\nland contracts for companies not willing or feeling too uncertain about the
\nfuture to commit to a full-time hire. 
\nFurther evidence of this trend is the self-employment rate for workers
\naged 55 and over is 16.4% compared to 10% for other age groups.  <\/div>\n
\n<\/div>\n
\nArkansas follows that trend as self employment increased by
\n11% to 136,000 over the last decade. 
\nPlus more than three out of four Arkansas businesses employ just a
\nsingle person.  Over the course of the
\nGreat Recession in 2008 and 2009, firms employing five or more employees lost
\nnet jobs and the only category that added net jobs were businesses employing one to
\nfour people.<\/div>\n
\n<\/div>\n

<\/p>\n

\nSelf employed, 1099ers require similar support and policies
\nthat would benefit any small business: improved access to capital, specialized
\ntraining, networking opportunities and guidance on expanding into new
\nmarkets.  The Rogers-Lowell Area Chamber
\ncan help 1099ers grasp these opportunities to benefit their business.  Visit RogersLowell.com or call 479-636-1240
\nto learn how the Chamber might be able to help you improve your business.<\/div>\n","protected":false},"excerpt":{"rendered":"

Each year the U.S. Chamber of Commerce Foundation analyzes data to determine what states have done over the previous year to create jobs and expand the economy.  The analysis is broken down into two parts, one that discusses what states should be doing and one that details what states are doing and then ranking the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[17,18,19,20,21],"class_list":["post-26","post","type-post","status-publish","format-standard","hentry","category-chambernews","tag-17","tag-arkansas","tag-enterprising-states","tag-great-recession","tag-self-employment"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8RhO8-q","jetpack-related-posts":[],"_links":{"self":[{"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/posts\/26","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/comments?post=26"}],"version-history":[{"count":1,"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/posts\/26\/revisions"}],"predecessor-version":[{"id":129,"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/posts\/26\/revisions\/129"}],"wp:attachment":[{"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/media?parent=26"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/categories?post=26"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/impactpossible.com\/voice\/index.php\/wp-json\/wp\/v2\/tags?post=26"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}