- About 70 million income is generated by 27 million small businesses in United States.
- 99.7 percent of employer firms in United States is represented by small businesses.
- One third of the American voting public is represented by members of the small business community.
- Small businesses employ about half of all private sector employees.
- They pay about 45 percent of total United States private payroll.
- They also create an average of 4,000 jobs per day.
- They create about 90 percent of new jobs in United States.
- Small businesses hire about 40 percent of the high tech workers.
- About 6 trillion dollars in revenue is generated by small businesses each year. This is equivalent to the second largest economy in the world.
- About 97.3 percent of all identified exports are exported by small businesses.
- 13 times of patents are produced by small businesses when compared with large firms.
- About 50 percent of non-farm private gross domestic product is created by the small businesses.
- About 12.5 percent of small business owners are immigrants in United States.
- Immigrants are 30 percent more likely to start a new business when compared with non-immigrants.
- In the growth of small businesses, Hispanics are key drivers. About 2.5 million plus are current Hispanic-owned business segments. They generate more than $388 billion annually.
- About 1 million are black owned small businesses in America. They account for over $100 billion in annual sales.
- 13.1 million people are employed by women through their small businesses. They generate 1.9 trillion in annual revenue.
- As per a report by Intuit Future of Small Business, majority of teens are preferring to own their own business rather working for a large corporation.
November 25, 2010
Few Quick Facts about U.S. Small Business
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