The recession gave rise to a lot of people going out on their own and forming sole proprietorships after having lost their jobs working for someone else. And many of these micro-businesses are doing quite well. According to the Census Bureau, more than 30,000 one-person companies earned more than $1 million in 2012.
Some 1900 of these business earned between $2.5 million and $5 million. Another 386 topped the $5 million mark. The number of businesses in that earnings range has risen by roughly 10 percent in the space of one year.
Of course, there are also a lot of these businesses that never make anywhere near that much. The biggest income category for one-person firms is the $10,000-to-$25,000 range; there are 5.7 million sole proprietorships who fall into that category.
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