WHAT IS A SMALL BUSINESS?

August, 2017

WHAT IS A SMALL BUSINESS?

A small business is an independent business

with fewer than 500 employees.

SMALL BUSINESSES COMPRISE:

ALL FIRMS

99.9%

ALL FIRMS with paid employees

99.7%

EXPORTING FIRMS

97.6%

29.6M SMALL BUSINESSES IN THE U.S.

62%

NET NEW JOBS

Small businesses accounted for 62% of net new jobs.

BED, [1993-2016]

KNOWN EXPORT VALUE

32.9%

PRIVATE SECTOR EMPLOYEES

47.8%

PRIVATE SECTOR PAYROLL

41.1%

SUSB, NES [2014], ITA [2015]

392K CLOSURES

404K STARTUPS*

20% Paid

Employees

80% No

employees

*A startup is a firm less than one year

old.

SUSB, NES [2014]

20M

19.2M

15M

10M

8.0M

NUMBER OF FIRMS

5M

273K

1.9M

SBO

[2012] Nonminority Minority American Asian Indian and Alaska Native

2.5M

2.6M

3.3M

Veteran

Black or African American

Hispanic

US CENSUS BUREAU

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

BED Business Employment Dynamics, Bureau of Labor Statistics

ITA International Trade Administration, US Department of Commerce

BDS [2014]

14.8M 9.9M

2.5M

Equally Woman

Male

Male/

Owned

Owned

Woman

Owned

For even more information visit

advocacy



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