We write about private-company financial data and managing a business.
It might be tempting to assume that headline-dominating large employers control all aspects of the U.S. economy, but that would be a mistake. Small businesses play an important role in creating jobs, sending products overseas and generating wealth for thousands of families.
Consider these nine amazing facts about small businesses in the U.S. from the Small Business Administration’s (SBA) Office of Advocacy, which recently released updated data. The office defines small businesses as an independent business with fewer than 500 employees.
1. Nearly all small.Virtually all U.S. firms are small businesses. Small businesses comprise 99.9 percent of all firms and 99.7 percent of firms with paid employees. Out of 29.6 million businesses, all but 19,000 are small. (2014 data)
2. Exporters? You bet. Nearly all U.S. exporters are small businesses. Small exporters numbered 287,835 in 2015, representing 97.6 percent of all exporting firms, and they were responsible for $440 billion in exports (32.9 percent of total known export value).