This week, the U.S. Small Business Administration celebrates National Small Business Week. Their goal is to help raise awareness for the nation’s small business owners and entrepreneurs; whose hard work, ingenuity, and commitment to community, create jobs and support local economies.
Here are 15 amazing facts to celebrate small businesses.
1) For every $100 dollars made, small businesses invest $68 dollars back into their neighborhood.
2) They have created 65% of the new jobs in the U.S. since 1996.
3) 54% of all national sales take place through small businesses.
4) In the United States, 12.5% of new small business owners are immigrants.
5) More than half of all small businesses are operated from within homes.
6) The Small Business Administration defines a small business as any business that has less than 500 employees.
7) 120 million people work for a small business.
8) 543,000 new businesses start every month.
9) California has more small businesses than any other state.
10) There’s an estimated 28 million small businesses in the United States. 22 million of them are owned and operated by one person.
11) 50% of small businesses plan on hiring employees in 2016.
12) Between 2013 and 2015, 90% of small business loan applications were approved by lenders.
13) Since 1990, large businesses have cut four million jobs. In that same time, small businesses have created eight million.
14) In 2011, 28% of small businesses are family owned.
15) In the United States, it only takes six days to start a business.
Nick Pizzolato is the Marketing Content Manager at Wicked Local Media Solutions. For questions, topics for future blogs, sending facts, or to share your favorite moment from the film “Back to the Future,” email him at firstname.lastname@example.org.