There’s no doubt that small business is a big deal for the United States. But just how big of a deal is it? With a little help from the US Small Business Administration, we look at just how big a deal small businesses are for the country.
- 28 million: the approximate number of small businesses in the US
- 54%: The amount of sales those small businesses account for
- 55%: The percentage of jobs in the country small businesses provide
- 66%: The percentage of net new jobs small businesses have provided since the ’70s
- Over 600,000: the number of franchised small businesses in the US
- 40%: The percentage of all retail sales franchised small businesses are responsible for
- 8 million: The amount of people franchised small businesses provide jobs for
- 30-50%: The percentage of all physical commercial space small businesses in the US occupy
- 20-34 billion square feet: The amount of physical commercial space small businesses occupy
- 49%: The percentage of increase in small businesses since the early ’80s
- 8 million: The number of new jobs small businesses have created since 1990
- 4 million: The number of jobs big businesses have eliminated since 1990
Clearly, as the numbers prove, small business is the backbone of the country, which is why it’s so imperative they survive.
[Photo courtesy of Robert Huffstutter on Flickr]