Caught at the Crossroads

 

 

We love our small businesses around here. So does the Small Business Administration:

Top 10 Reasons To Love Small Business: The Heart Of The American Economy

WASHINGTON, D.C. - The Office of Advocacy of the SBA offers the top 10 reasons to love small business, the heart of the American economy.

Top 10 Reasons To Love Small Business

10. Small businesses make up more than 99.7% of all employers.

9. Small businesses create more than 50 percent of the nonfarm private gross domestic product (GDP).

8. Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms.

7. The 22.9 million small businesses in the United States are located in virtually every neighborhood.

6. Small businesses employ about 50 percent of all private sector workers.

5. Home-based businesses account for 53 percent of all small businesses.

4. Small businesses make up 97 percent of exporters and produce 29 percent of all export value.

3. Small businesses with employees start-up at a rate of over 500,000 per year.

2. Four years after start-up, half of all small businesses with employees remain open.

1. The latest figures show that small businesses create 75 percent of the net new jobs in our economy.

The Office of Advocacy, the "small business watchdog" of the government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats and it funds research into small business issues.

For more information, visit the Office of Advocacy website at www.sba.gov/advo.