Today I attended the Kauffman Foundation State of Entrepreneurship address in Washington, D.C. at the National Press Club. The event was packed with range of bootstrap entrepreneurs like myself to high ranking government officials. Kauffman President and CEO Carl Schramm addressed the crowd with a wealth of statistics on entrepreneurship which included the following:
- 36 percent of entrepreneurs reported reductions in head count in the past year; only 8 percent have added employees.
- Nearly two-thirds have seen their sales volume and their profitability decrease.
- 71 percent of entrepreneurs do not expect to add any new jobs in 2010.
- 61 percent of entrepreneurs think the economy is on the wrong track.