An interesting perspective.
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…
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