Monday, July 6, 2009

Small Business Facts

Just some interesting facts about small businesses that I wanted to share -

- There are about 20 million small businesses in America.
- Small businesses account for 39 percent of the country's gross national product, create two out of every three new jobs and produce two and one half times as many innovations per employee as do large firms.
- The trend in recent years has been for more small businesses to close than open.
- Of the 23 million firms in 2002, 6.9 percent were owned by Hispanic Americans, 5.2 percent by African Americans, 4.8 percent by Asian Americans, 0.9 percent by American Indians and Alaskan Natives, and 0.14 percent by Native Hawaiian and other Pacific Islanders. In 2002, minorities owned 4.1 million firms that generated $694.1 billion in revenues and employed 4.8 million workers.
- Women owned 6.5 million businesses that generated $950.6 billion in revenues, employed 7.2 million workers, and had $179.6 billion in payroll in 2002.

In addition, another 2.7 million firms are owned equally by both women and men; these firms add another $731.1 billion in revenues and employ another 5.7 million workers.
Sources: 1 2 3 4

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