Top 10 Reasons to Love Small Businesses
- Small businesses make up 99.7 percent of all United States employers.
- Small businesses create more than 50 percent of the American non-farm private gross domestic product (GDP).
- Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms.
- The more than 24 million small businesses in the United States are located in every community and neighborhood.
- Small businesses employ 50.1 percent of the United States non-farm private sector workers.
- Home-based businesses account for 53 percent of all small businesses.
- Small businesses are 97 percent of America’s exporters and produce 26 percent of all export value.
- United States saw an estimated 580,865 new small firms with employees start-up in the last year measured.
- There are approximately 4,115,900 minority-owned businesses and 6,492,795 women-owned businesses in the United States, and almost all of them are small businesses.
- The latest figures show that small business creates 65 percent or more of America’s net new jobs.
Information from the Business Advocacy Association.