The back bone of any economy is small business so we thought lets hunt out some stat's about the US economy to highlight the point - take a look at these facts put together by Forbes: - we also sourced this great infographic from Dell!
The US Small Business Administration (SBA) defines a small business as an enterprise having fewer than 500 employees
There are almost 28 million small businesses in the US and over 22 million are self employed with no additional payroll or employees (these are called nonemployers)
Over 50% of the working population (120 million individuals) works in a small business
Small businesses have generated over 65% of the net new jobs since 1995
Approximately 543,000 new businesses get started each month (but more employer businesses shut down than start up each month)
7 out of 10 new employer firms survive at least 2 years, half at least 5 years, a third at least 10 years and a quarter stay in business 15 years or more
52% of all small businesses are home-based
There were 22.5 million nonemployer firms in 2011 (up almost 2% from the year before)
To classify as a “nonemployer” business you must have annual business receipts of $1,000 or more and be subject to federal income taxes
Approximately 75% of all U.S. businesses are nonemployer businesses
19.4 million nonemployer businesses are sole proprietorships, 1.6 million arepartnerships and 1.4 million are corporations
The fastest growing sector for freelance businesses in 2011 included auto repair shops, beauty salons and dry cleaners
Total TOT +0.14% revenues from nonemployers hit $989.6 billion in 2011 (up 4.1% from 2010)
Nonemployers had average revenues of $44,000
Around 80% of nonemployer businesses for 2011 (or 18 million businesses) reported less than $50,000 in receipts
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