Based on Business News daily
A small business should have less that 500 or 500 employees according to the US Small Business Administration. 99.9% of all US businesses represent firms fewer than 500 employees.
- 29.6 small Business in the US based on SBA estimates in 2008.
- 21.7 businesses have owner but no employees(2007)
- 52.2% US small business are home based.
- Women own 28.7% of all US small Business for a total of 7.8 Million business in US 2007 which grew by 44 percent between 1997 to 2007
- The highest rate of new firm births are in parts of New Mexico, Colodorado,Wyoming and Idho.
- Small Business firms account for 41% of U.S. corporate patents.
- Provide half of the nation’s nonfarm and private real gross domestic product.
- Employ just over half of the private sector employees.
- Hire 40% of high tech workers ( such as scientists, engineers and computer programmers)
- Make up 97.3% of all identified exporters and produce 30.2% of the known export value in 2007
- 7 out of 10 new firms with employees last at least 2 years, and about half survive 5 years.
- 75% of Small Business owners find workplace profanity offensive and unprofessional.
- 40% of small Business owners admit they use foul language now and then.
Small Business GDP BY Industry
- Mining and Manufacturing – 11%
- Utilities – 1%
- Construction – 10%
- Trade – 16%
- Transportation and Warehousing – 3 %
- Information – 2 %
- Finance and Insurance – 8 %
- Real estate and leasing – 11%
- Professional and technical – 12%
- Admin and Waste – 3%
- Education – 1%
- Health services – 9 %
- Arts and Entertainment – 2%
- ACC and Food services – 4 %
- Other Service – 5%
- Holidaying Companies – 2 %
(2002 figures, based on Bureau of Economic Analysis In US)
Finance source
Credit card debt is common firm of small business financing, followed by traditional and non -traditional loans.
- Any credit – 89%
- Any traditional loan – 60.4 %
- Line of credit – 34.3%
- Mortgage – 13.3%
- Vehicle loan – 25.5%
- Equipment Loan – 10.3%
- Lease – 8.7 %
- other – 10.1%
- Any traditional Loan – 80%
- Owner loan -16.8%
- Personal credit Card – 46.7%
- Business credit card – 48.1%
