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Small Home-Based Businesses Drive the U.S. Economy

    Submitted by Anonymous (not verified) on Sat, 02/28/2009 - 10:01

    Home-Based Businesses Lead the Way

    Small businesses across the na

    tion—over half of which are home-based businesses—create a majority of new jobs, introduce exciting new innovations to the marketplace each year, and generate over half of the U.S. economic output. Consequently,it comes as no surprise that the small business sector is the primary driving force behind the American economy. The Small Business Administration (SBA) Office of Advocacy offers the following top 10 reasons to love small businesses:

    10. Small businesses make up 99.7% of all United States employers.
    9. Small businesses create more than 50% of the American non-farm private gross domestic product (GDP).
    8. Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms.
    7. The more than 24 million small businesses in the United States are located in every community and neighborhood.
    6. Small businesses employ 50.1% of the United States’s non-farm private sector workers.
    5. Home-based businesses account for 53% of all small businesses.
    4. Small businesses are 97% of America’s exporters and produce 26% of all export value.
    3. The United States saw an estimated 580,865 new small firms with employees start up in the last year measured.
    2. There are approximately 4,115,900 minority-owned businesses and 6,492,795 women-owned businesses in the United States, and almost all of them are small businesses.
    1. The latest figures show that small businesses create 65% or more of America’s net new jobs. HBM

    Source: www.sba.gov/advo  

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