Level is very optimistic about the future of America's micro-businesses as a driving force of tomorrow’s economy. We are working hard to support their growth.
American’s are capitalizing on changing employment structures in countless ways as task-based work is normalized. Micro-businesses, the result of lower barriers to entry that these employment structures allow, continue to proliferate as businesses increasingly encourage third party participation. On-demand marketplaces for example, which rely solely on third party participation, enable firms to compete effectively earlier than ever before by fulfilling critical startup tasks. An individual participating on a delivery platform does not need a registered company or trademarked brand, nor do their own marketing, acquire proprietary customers, or develop the ability to independently accept payments. With traditional employers following suit, micro-businesses have proliferated to access this new economy's low-barrier-to-entry opportunities.
Millions of American micro-businesses have emerged over the past decade. A joint research paper between economics faculty at Harvard and Princeton in 2016 revealed that, "nearly all of the 10 million jobs created between 2005 and 2015 were not traditional 9-to-5 jobs". Statista claims that more than 57 million Americans, at least 17% of the total population, already participate in task-based earning and McKinsey projects that this workforce could grow to between 76 and 129 million within the next decade. With this new mode of employment becoming a norm, it's time to recognize this segment's talent and its potential to become the driving force in tomorrow's economy. Level is confident that millions of tomorrow's successful small, medium, and large businesses exist today as micro-businesses. It’s our job to find them and will enable their continued development.
Already we're identifying exceptional micro-businesses across industries and providing products and services that will enable them to take their businesses to the next level. Above all Level focuses on a proven ability to earn when selecting those that we'll support and we focus on providing critical services (primarily credit, for now) that are necessary for any business to grow. We see grit, results, and potential. Watch as we help some of America's most resourceful and talented businesses grow.