Small Business Does Matter

Small Business Facts
Small business is BIG!

Thought I would share a few facts on Small Business.

  • Small business produces roughly half of the private Gross Domestic Product (GDP) and creates, on average, about two-thirds of net new jobs annually.
  • Small businesses are the greatest source of new employment in inner cities, comprising more than 99 percent of establishments and 80 percent of total employment.
  • American small business is the world’s second largest economy, trailing only the United States as a whole.
  • Small businesses employ more than half of private sector employees.
  • Ninety percent of small businesses employ fewer than 20 people.
  • Small firms represent 99.7 percent of all employers.
  • Nearly 16 million people operate a small business as their primary occupation in a year.
  • Women-owned firms have grown at around two times the rate of all firms.
  • Minority-owned firms have grown at around four times the rate of all firms

Source: National Federation of Independent Business

Get Smart on Small Business: The Backbone of the U.S. Economy. To learn more about Small Business Facts, visit the NFIB website at http://prod.ion.nfib.com/object/smallBusinessFacts.