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How Important Are Small Businesses to the U.S. Economy?

According to the latest numbers from the Small Business Administrations Office of Advocacy, the numbers speak for themselves! Small firms…

· Represent more than 99.7 % of all employers.
· Employ more than half of all private sector employees
· Pay 44.5 % of total U.S. private payroll.
· Generate 60 to 80 percent of net new jobs annually.
· Create more than 50 % of non-farm private gross domestic product
· Supplied 22.8 % of the total value of federal prime contracts in 01.
· Employ 39 percent of all high tech workers.
· Produce 13 to 14 times more patents per employee than large firms.
· Are 53 % home-based and 3 % franchises.
· Make up 89 % of all identified exporters
· Produced 20 % of the known export value in FY 2001.


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