Surprising Small Business Statistics Infographic

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Small business statistics infographic – How many small businesses are there in America? How many of them are the smallest businesses of just one or two employees? How many new small businesses are started every month? What is the annual revenue of small businesses? What are the fastest growing categories of small businesses? What are the advantages inherent in small businesses?

Small business statistics infographic

Small businesses statistics infographic – Adapting to change is crucial in business and particularly small business; not being tied to any bureaucratic inertia, it is typically easier to respond to the marketplace quickly. Small business proprietors tend to be intimate with their customers and clients which results in greater accountability and maturity. Ultimately their customers are their bosses.

Prepared by Docstoc from data compiled by the US Census and the SBA, the following small business statistics infographic to present the most current data of small businesses statistics in America.  Enjoy!

In America, small businesses (fewer than 500 employees) account for greater than half the  private GDP and around half the private sector employment. The top job provider is those with fewer than 10 employees, and those with 10 or more but fewer than 20 employees comes in as the second, and those with 20 or more but fewer than 100 employees comes in as the third. The most recent data shows firms with fewer than 20 employees account for slightly more than 18% of the employment. According to “The Family Business Review.”

It can be argued that a sole-proprietorship (an unincorporated business owned by a single person) is a type of family business and  there are 22 million small businesses (fewer than 500 employees) in the US and approximately 14,000 big businesses.  Also, it has been found that small businesses created the most new jobs in communities, In 1979, David Birch published the first empirical evidence that small firms (fewer than 100 employees) created the most new jobs. The evidence suggests that small businesses indeed create a substantial majority of net new jobs in an average year.  Local businesses provide competition to each other and also challenge corporate giants. (source: Wikipedia)