The small business marketplace changes rapidly. Small Business Stats reflects the current and future movement of the economy. The information included on this page represents the most current information. When discussing a “small business,” this site uses the definitions provided by the U.S. Small Business Administration's Office of Advocacy.
Small Business Affects on the Economy
The estimated 22.9 million small businesses in the United States:
Create 75 percent of the new jobs
Employ 51 percent of the country’s private workforce
Represent more than 96 percent of all the exporters of goods
Represent more than 99 percent of all employers
Generate a majority of the innovations that come from United States companies
Account for more than 40 percent of the offline economy of the United States (IDC, January, 2003)
Source: U.S. Small Business Administration, April 2003, unless noted otherwise.
New Small Business Statistics from the
The President's Plan to Strengthen Small Businesses
• Small businesses represent more than 99 percent of all employers, and employ more than half the private work force. Small business entrepreneurs create more than two out of every three new jobs and generate about 50 percent of the nation's gross domestic product.
• Nearly 40 percent of small businesses are owned by women. Close to 15 percent of America's small business owners are minorities – and the trend of minority ownership is accelerating. More than three million minority-owned small businesses are providing job opportunities for millions of Americans in thousands of communities across America.
• The President is committed to creating an environment where small businesses can flourish. Under the President's economic plan, entrepreneurs will be able to devote more resources to developing products, growing... [continues]
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(2008, 11). Small Business in America. StudyMode.com. Retrieved 11, 2008, from http://www.studymode.com/essays/Small-Business-America-176564.html
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"Small Business in America." StudyMode.com. 11, 2008. Accessed 11, 2008. http://www.studymode.com/essays/Small-Business-America-176564.html.