The entrepreneurial spirit appears to be alive and will as evidence by the increase in commercial real estate activity we have seen the first half of this year and the recent reports there is reason to hope the commercial real estate market may be bouncing back.
The U.S. Labor Department released its unemployment and payrolls reading for the month of May. The bad news is that the official unemployment rate ticked up to 7.6% in May. The Bureau of Labor Statistics (BLS) data showed that 178,000 private sector payrolls were added in May.
In a self-reporting poll from Gallup, U.S. consumers spent more money in May than in any month since October 2008.
Despite the good news/bad news from labor department and BLS, minor increases in consumers spending and statistics showing a rather high failure rate for small businesses, another survey conducted by Deluxe Corp of 1,000 small business owners showed that the vast majority of them say they’d rather embrace potential failure than never try at all.
The survey found:
86% of the respondents believe they can do anything they set their minds to
77% say they would rather learn from failure than never try
89% describe themselves as leaders and 54% say they don’t want a boss
I just love the entrepreneurial mindset. This is one of the reasons I love being involved in commercial real estate, and don’t personally get involved in residential real estate at all. It’s the entrepreneurial mindset of a small business owner that is the engine that runs the economy in the free enterprise system and is the primary reason the commercial real estate market may be bouncing back.
This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared