How Sole Proprietors Responded to the Great Recession and Weak Recovery

Sole proprietors were hit hard by the Great Recession. In 2008, the number of sole proprietorships in the country declined by 508,000, after having increased in every year since 1980.

Sales tanked. Revenues at the average Schedule-C-filer fell 11.2 percent from 2007 to 2009 in inflation-adjusted terms, Internal Revenue Service (IRS) statistics reveal.

How Sole Proprietors Responded to the Great Recession and Weak Recovery