surprising small business statistics
There’s a day coming up this month that means a lot to us at eZanga. No, not Thanksgiving (although we do love a good feast). It’s not Black Friday either, as much as some of us like to shop. It’s actually the day after Black Friday: Small Business Saturday.
On Black Friday, most people go to big stores that offer the best deals, like Best Buy, Walmart, etc. But some people wait one more day to do their holiday shopping so that they can support small, local businesses.
Well, we really love small businesses and the fact that there’s a day to celebrate them that’s officially recognized by the U.S. Senate. Since it’s not until the very end of the month, we have a bit of counting down to do.
While we try to give small business as many resources as we can via our blog and social media channels, we’re amping it up a bit this month. We’ll be posting content that’s specific to small businesses more often, and branching out in the type of advice and resources we provide them.
As a way to introduce this “countdown” to the blog, we thought we’d start off with a great infographic from Docstoc with a few great numbers about small business:
- The Small Business Administration defines a small business as an enterprise with fewer than 500 employees. (Tweet this stat)
- There are almost 28 million small businesses in the U.S. On top of that, there are over 22 million individuals that are self-employed. (Tweet this stat)
- Over 50% of the working population (120 million) is employed by a small business. (Tweet this stat)
- Small businesses have generated over 65% of the net new jobs since 1995. (Tweet this stat)
- Approximately 543,000 new businesses are started each month. But unfortunately, even more than that shut down. (Tweet this stat)
- Seven out of 10 new employer firms survive at least two years, half at least five years, a third will last for 10 years, and a quarter stay in business 15 years or longer. (Tweet this stat)
- 52% of all small businesses are home-based. (Tweet this stat)
- There were 22.5 million non-employer firms in 2011, up almost 2% from 2010. (Tweet this stat)
- To classify as a “non-employer” business, you must have annual business receipts of $1000 or more and be subject to federal income taxes. (Tweet this stat)
- Approximately 75% of all U.S. businesses are non-employer businesses. (Tweet this stat)
- 19.4 million non-employer businesses are sole proprietorships, 1.6 million are partnerships, and 1.4 million are corporations. (Tweet this stat)
- The fastest growing sectors for freelance businesses in 2011 included auto repair shops, beauty salons, and dry cleaners. (Tweet this stat)
- Total revenues from non-employers hit $989.6 billion in 2011, up 4.1% from the year before. (Tweet this stat)
- Non-employers had average revenues of $44,000 in 2011. (Tweet this stat)
- Around 80% of non-employer businesses in 2011 (about 18 million businesses) reported less than $50,000 in receipts. (Tweet this stat)
(Click infographic for original source)
Will you be shopping small on November 30? Let us know where you’re shopping or what you’re buying in the comments!
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