How important are small businesses to the US economy?

How important R SMALL businesses 2 the U.S. ECONOMY?



They REPRESENT 99.7$ OF ALL EMPLOYER FIRMS



How many small businesses are there?

In 2009, there were 27.5 million businesses int he United States, according to Office of Advocacy estimates. The latest available Census data show that there were 6.0 million firms with employees in 2007 and 21.4 million without employees in 2008. Small firms with fewer than 500 employees represent 99.9 percent of the total (employees and non employees), as the most recent data show there were about 18,311 large businesses in 2007.



SMALL BUSINESSES EMPLOY HALF OF ALL PRIVATE SECTOR EMPLOYEES

What is small firms' share of employment?

Small business employ about half of U.S. workers. Of 120.6 million nonfarm private sector workers in 2007, small firms employed 60.7 million. About half of small firm employment is in second-stage companies (10-99 employees_ and hald is in firms that are 15 years or older. Small firms' share of employemnt in rural areas is slightly hight that in urban areas; their share of part-time workers (22 percent_ is similar to large firms' share (19 percent). Small firms' employement share remains steadyu simce some small firms grown into large firms over time.



Small business PRODUCES 13X MORE PATENTS PER EMPLOYEE THAN LARGE PATENTING FIRMS.

Patents for small firms (business with fewer than 500 employees) are more technically important on average than those for large firms, since a small firm patent is more likely than a large firm patent to be among the top 1 percent of most frequently cited patents. In addition, small serial innovators are younger than large patenting firms, but they are not startups. The resilience of these firms makes them serial innovators, hence they concentrate in newer, science-based technologies such as biotechnology, semiconductors, and pharmaceuticals.



SMALL BUSINESSES

Hire 43% OF HIGH TECH WORKERS

(scientists, engineers, computer programmers, and others)

Pay 44% OF TOTAL U.S. PRIVATE PAYROLL

Generated 65% OF NET NEW JOBS OVER THE PAST 17 YEARS How important RSMALL businesses 2h U.S. ECONOMY? * * * ★ * * ★ * They REPRESENT 99.7% OF ALL EMPLOYER FIRMS* How many small businesses are there? In 2009, there were 27.5 milion businesses in the United States, according to Ollice of Advocacy estimates. The lastest avalable Census data show that theare were 6.0 million Н firms with employes in 2007 and 21.4 milion without employoes in 2008. Small firms with fewer than 5 represent 99.9 per cent of the total ( employers and nonemployera), as the most recent data show there wore about 18,311 large businesses in 2007. employees Source:Office of Advocacy estimates based on data from the U.S. Dept. of Commerca, 3, Census Bureau, and trends from the U.S. Dept. of Labor, Bureau of Labour Slatistics, Business Employment Dynamics. * Source: U.S. Dopt. of Commarce, Census Bureau and Inti. Trade Admin.; Advocacy-funded research by Kathryn Kobe, 2007 and CHI Research, 2003 U.S. Dept. of Labor, Bureau of Labor Statistica. SMALL BUSINESSES EMPLOY HALF OF ALL PRIVATE SECTOR EMPLOYEES* What is small firms' share of employment? Small businesses employ about half of U.S. workers. Of 120.6 million nonfarm private sector workers in 2007, small firms employed 59.9 million and large firms employed 60.7 million. About half of small firm employment is in second-stage companies (10-99 employees), and half is in firms that are 15 years or older. Small firms' share of employment in rural areas is slightly higher that in urban areas; their share of part-time workers (22 percent) is similar to large firms' share (19 percent). Small firms' employment share remains steady since some small firms grow into large firms over time. * Source:U.S.Dept. of Commerce, Census Bureau: Statistics of U.S. Businesses, Current Population Survey and Business Dynamics Statistics; and the Edward Lowe Foundation (http://youreconomy.org). = 1 million Small business PRODUCES 13x MORE PATENTS PER EMPLOYEE THAN LARGE PATENTING FIRMS. Patents for small firms (businesses with fewer than 500 employees) are more technically important on average than those for large firms, since a small firm patent is more likely than a large firm patent to be among the top 1 percent of most frequently cited patents. In addition, small serial innovators are younger than large patenting firms, but they are not startups. The resilience of these firms makes them serial innovators, hence they concentrate in newer, science-based technologies such as biotechnology, semiconductors, and pharmaceuticals. SMALL III BUSINESSES Hine43% 43 57 OF HIGH TECH WORKERS (scientists, engineers, computer programmers, and others) Pay 44% 44 56 OF TOTAL U.S. PRIVATE PAYROLL Guerated 65% 65 35 OF NET NEW JOBS OVER THE PAST 17 YEARS This information was brought to you by Registered Agent Solutions, Inc. (RASI) . RASI has been helping small businesses for over ten years providing Registered Agent Services, Entity Management Software, Annual Report Services, Incorporations and Formations along with Registrations and Qualifications. Find more information about RASİ and all the services they provide small businesses at www.rasi.com and don't forget to support your local small businesses this Sat. Nov 24. REGISTERED AGENT SOLUTIONS IN C RASİ w w w .ra si. com all information in this inforgraphic was provided by the SBA @ http://web.sba.gov/faqs/faqlndexAll.cfm?areaid=24