Not really a web-related article here – but something I found interesting nonetheless.
In general I’m typically not a fan of this author’s articles. She rights on personal and small business related financing, and frankly she writes some things that make me think she doesn’t have a great grasp on it herself – but I’m not here to bash.
In this article, MP Dunleavey notes some figures by the Interal Revenue Service:
According to the latest figures from the Internal Revenue Service, the average sole proprietor (i.e., non-farm businesses that filed a Schedule C) reported net receipts of about $53,272 in 2003.
The average net profit: About $11.
Wow. $11 average profit on $53,000 revenue. That’s .02% profit margin. Ouch!