The State of the US Small Businesses

docstoc Resources for Small Business & Professionals™ 16 SURPRISING STATISTICS About Small Businesses The SBA defines a small business as 1 an enterprise having fewer than 500 employees 500 There are almost 28 million small 2 businesses in the US, & over 22 million are self employed with no additional payroll/employees (non employers) 28M Small Businesses 22M Self Employed 3 Over 50% of the working population (120 Million) works in a small business OVER 50% Works in a small biz Small businesses have generated over 65% of the net new jobs since 1995 65% New Job 1995 5 Approximately 543,000 new businesses get started each month (but more employer businesses shut down vs. start/ month) We are OPEN 543,000/m New Business Started Seven out of 10 new employer firms survive at least 2 years, half at least 5 years, a third at least 10 years, a quarter stay in business 15 years or more. 2YRS (7 out of 10) 5YRS (haf) 10YRS (a third) 15YRS (a quarter) 52% of all small businesses are home-based There were 22.5 million non-employer 8 firms in 2011 (up almost 2% from the year before) 22.5Million NON-EMPLOYER FIRMS (2011) $1,000 or more To classify as a “non-employer" business you must have annual business receipts of $1,000 or more and be subject to federal income taxes. Approximately 75% of all U.S. 10 businesses are non-employer businesses 75% U.S. Businesses Non-employer businesses 19.4 million non employer businesses 11 are sole proprietorships, 1.6 million were partnerships, and 1.4 million were corporations Sole proprietorships 19.4M Non- Partnerships 1.6M employer business Corporations 1.4M The fastest growing sector for 19 freelance businesses in 2011 included, auto repair shops, beauty salons, and dry cleaners Total revenues from non-employers hit 13 $989.6 billion in 2011 (up 4.1% from 2010). $989.6 Billion (2011) 14 Non Employers had average revenues of $44,000 Around 80% of non-employer 15) businesses for 2011 (or 18 million businesses) reported less than $50,000 in receipts The revenue breakdown of non 16 employer businesses in 2011: $1M - 2.5M 26,744 $500K - 1M 209,415 $2.5M - 5M 1,723 0.1% $250K - 500K 484,479 0% $5M or more 368 0% $100K - 250K 1,609,507 0.9% 2.2% 7.2% $50K - 100K 2,151,075 Less than $5K 24,4% 9.6% 5,492,587 $25K - $50K 13.5% $5K - 10K 3,029,809 16.9% 3,795,785 $10K - $25K 25.3% 5,689,588 Total Number of U.S. Nonemployer Businesses: 202-2011 (in millions) 25 21.7 21.3 21.7 22.1 22.5 20.4 20.8 19.5 20 18.6 17.6 15 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 United States Census U.S. Department of Commerce Economics and Statistics Administration U.S. CENSUS BUREAU CENSUS.GOV Bureau SOURCES Sources United States Census Bureau. "2011 Nonemployer Statistics." U.S. Department of Čommerce: http://censtats.census.gov/cgi-bin/nónemployer/nonsect.pl Small Business Administration Office of Advocacy: http://www.sba.gov/sites/default/files/FAQ_Sept_2012.pdf United States Census Bureau: Statistics about Business Size (including Small Business) http://www.census.gov/econ/smallbus.html United States Census Bureau: Statistics of U.S. Businesses: http://www.census.gov/econ/susb/ docstoc Resources for Small Business & Professionals" Courtesy of Docstoc.com; free to redistribute per cc http://creativecommons.org/licenses/by-nc-nd/3.0/ CREATED BY CREATED BY