TOP 10 REASONS TO LOVE U.S. SMALL BUSINESS

lovesmallbusinessThe Small Business Administration (SBA) has announced the top 10 reasons to love small business. The SBA’s Office of Advocacy calls small business “the heart of the American economy.”

10. Small businesses make up more than 99.7 percent of all employers.

9. Small businesses create more than 50 percent of the non-farm private gross domestic product (GDP).

8. Small patenting firms produce 16 times more patents per employee than large patenting firms.

7. The 28.2 million small business in the United States are located in virtually every neighborhood.

6. Small businesses employ almost 50 percent of all private sector workers.

5. Home-based businesses account for 52 percent of all small businesses.

4. Small businesses make up 98 percent of exporters and produce 33 percent of all export value.

3. Small businesses with employees start up at a rate of over 500,000 per year.

2. Four years after start-up, half of all small businesses with employees remain open.

1. The latest figures show that small businesses create 63 percent of the net new jobs in our economy.

As you can see, small business is definitely the heart of the American economy. When we support small business, we’re taking steps to support our U.S. economy.

Reference:
Longley, Robert (2015). Top Ten Reasons To Love Small Business. Retrieved from http://usgovinfo.about.com/cs/businessfinance/a/sbatopten.htm

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