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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. |