SMALL BUSINESS IN AMERICA – IMPORTANT DATA

June 24th at 10:46pm Published by firstdownadmin

In the U.S., existing small businesses comprise 99% of all employer firms, employ nearly half of the workforce, and account for more than 60% of the private sector’s net new jobs.

● Firms with fewer than 500 workers accounted for 99.7 percent of those businesses.

● Firms with fewer than 100 workers accounted for 98.2 percent.

● Firms with fewer than 20 workers made up 89.0 percent.

“Small businesses accounted for 61.8% of net new jobs

● “Small businesses created 1.9 million net jobs

● “Firms employing fewer than 20 employees experienced the largest gains, adding 1.1 million net jobs.”

● “The smallest gains were in firms employing 100 to 499 employees, which added 387,874 net jobs.”

According to data from the Census Bureau’s Annual Survey of Entrepreneurs:

● Employer firms with fewer than 500 workers employed 46.8 percent of private sector payrolls

● Employer firms with fewer than 100 workers employed 33.4 percent.

● Employer firms with less than 20 workers employed 16.8 percent.

“About half of all establishments survive five years or longer… About one-third of establishments survive 10 years or longer.”

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