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The Backbone of the American Economy – Small Business Statistics Infographic

SMALL BUSINESS THE BACKBONE OF THE AMERICAN ECONOMY As America emerges from the turbulence of the Great Recession, small business is once again proving to be the bread and butter of this great nation. THE FEATS OF AMERICAN SMALL BUSINESS There are nearly 28 million small businesses in America. THEY ACCOUNT FOR: 54% OF ALL & US SALES! 120 MILLION JOBS 543.000 NEW BUSINESSES ARE CREATED EACH MONTH. New! NEW SMALL BUSINESSES: 70% 50% 33% 25% survive 2 years survive 5 years survive 10 years survive 15 years Small businesses account for 66% of all new jobs created since the 1970s. Small businesses take up 30-50% of all commercial space in the US. Since 1990: big business cut small businesses have added This is estimated to be 4 MILLION 8 MILLION 20-34 BILLION jobs in the US jobs in the US. square feet! Percentage of US workers that are employed in a small business: Since 1982, the number of small businesses has increased by Over 49% 50% THE BASICS OF SMALL BUSINESS IN AMERICA WHAT IS A SMALL BUSINESS? Typically, small businesses are formed as one of these 4 types: 72% 5% SOLE PROPRIETORSHIP / PARTNERSHIP: A business operating in the name of one or more persons who run the company together. It provides no legal protection to the individuals. CORPORATION: Formed when shareholders exchange money, property, or both for a share of the corporation's stock. 13% 10% S CORPORATION: A corporation that provides the legal protection and allows the pass through of income to LIMITED LIABILITY COMPANY (LLC): A flexible entity whose owners, known as members, are only responsible for the business' debts to the extent of capital they invested in the LLC. individual shareholders. A Breakdown of American Small Business: SIZE ANNUAL REVENUE 1-4 EMPLOYEES: 52% 20-99 EMPLOYEES: 11% > $100.000: 22% $1,000,000-$2,499,999: 13% 5-9 EMPLOYEES: 19% 100-499 EMPLOYEES: 6% s100,000 - $499,999: 40% $2.500.000-S4.999,999: 5% 10-19 EMPLOYEES: 12% $500,000-$999,999: 15% $5,000,000 +: 5% INDUSTRY SERVICES: 40% FINANCE, INSURANCE, REAL ESTATE: 8% TRANSPORTATION, COMMUNICATION, PUBLIC UTILITIES: 4% RETAIL TRADE: 20% WHOLESALE TRADE: 7.4% OTHER: 2.4% CONSTRUCTION: 12% MANUFACTURING: 6% In the United States, small businesses account for: These businesses are... 45% 99% 64% 52% Home-based Office / commercial of Private nonfarm GDP of US employer companies of new private sector jobs 48% space-based 49% 43% 46% 2% Franchise 98% Independent of private sector employment of private sector payroll of private sector output 22% With employees 43% 98% 33% Without 78% employees of goods exporting firms of hi-tech of US employment exporting value As small businesses continue to grow the US economy with their determination and innovation, the Great Recession will become nothing more than a memory. http://www.sba.gov/sites/default/files/FAQ_Sept_2012.pdf - http://www.sba.gov/content/small-business-trends http://www.forbes.com/sites/jasonnazar/2013/09/09/16-surprising-statistics-about small-businesses http://censtats.census.gov/cgi-bin/nonemployer/nonsect.pl http://www.sba.gov/advocacy/7540/42371 http://www.sba.gov/content/what-sbas-definition-small-business-concern http://www.sba.gov/advocacy/firm-size-data https://www.census.gov/econ/smallbus.html http://catalog.flatworldknowledge.com/bookhub/reader/7?e=collins-cho5_s03 http://www.s-corp.org/wp-content/uploads/2013/08/Quantria_Study_ETR_8-6-13_Final_pm.pdf http://www.forbes.com/sites/jasonnazar/2013/09/09/16-surprising-statistics-about-small-businesses AMERICAN FINANCE SOLUTIONS

The Backbone of the American Economy – Small Business Statistics Infographic

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Small businesses are the driving force behind American innovation and financial stability. From partnerships to LLCs, these companies generate millions of jobs in America and billions of dollars worth...

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