Small Business strengthening economy

America’s small businesses are strengthening the economy

1. Between 1993 and 2011, small firms accounted for 64% of the net new jobs created in the United States.

2. Small businesses comprise 98 percent of America’s exporters and produce 33 percent of all export value.

3. Small businesses create more than 46 percent of the American nonfarm private gross domestic product (GDP).

4. Small businesses create 43 percent of all high-tech employment.

5. Home-based businesses account for 52 percent of all small businesses.

6. More than 7.8 million businesses are owned by women.

7. Veterans also own more than 3.7 million small businesses, and are at least 45 percent more likely to be self-employed in the private sector workforce than those with no active-duty military experience.

8. Small businesses received over $90 billion in Federal contracts in FY 2011.

9. Small, high-patenting firms produce 16 times more patents per employee than large patenting firms.

10. With approximately 28 million small businesses in the United States, employing 60 million Americans, small businesses employ half of the private sector workforce

 

Source:  SBA

 

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