What's New with Small Business - Small Business Administration

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WHAT IS A SMALL BUSINESS? A small business is an independent business with fewer than 500 employees. BED, [1993-2016]. S
August, 2017

WHAT IS A SMALL BUSINESS?

Small businesses accounted for 62% of net new jobs.

62%

A small business is an independent business with fewer than 500 employees.

NET NEW JOBS

BED, [1993-2016]

SMALL BUSINESSES COMPRISE: ALL FIRMS

ALL FIRMS with paid employees

EXPORTING FIRMS

KNOWN EXPORT VALUE

99.9%

99.7%

97.6%

32.9%

PRIVATE SECTOR EMPLOYEES

PRIVATE SECTOR PAYROLL

47.8%

41.1%

SUSB, NES [2014], ITA [2015]

29.6M SMALL BUSINESSES IN THE U.S. 20%

Paid Employees

392K CLOSURES

404K STARTUPS*

*A startup is a firm less than one year old.

80% No employees

SUSB, NES [2014]

20M

19.2M

10M

8.0M

5M

273K Nonminority

Minority

14.8M

NUMBER OF FIRMS

15M

SBO [2012]

BDS [2014]

American Indian and Alaska Native

US CENSUS BUREAU NES Nonemployer Statistics BDS Business Dynamics Statistics SBO Survey of Business Owners SUSB Statistics of US Businesses

9.9M

1.9M

2.5M

2.6M

3.3M

2.5M

Asian

Veteran

Black or African American

Hispanic

Equally Male/ Woman Owned

BED ITA

Business Employment Dynamics, Bureau of Labor Statistics International Trade Administration, US Department of Commerce

Woman Owned

Male Owned

For even more information visit

www.sba.gov/advocacy

https://go.usa.gov/xRVyr