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Why Small Biz Is The Key To Our U.S. Economic Success

[ 0 ] Jul. 2, 2013 | SBO Editor

Small businesses:
o Represent 99.7% of all employer firms.
o Employ just over half of all private sector employees.
o Pay 44% of total U.S. private payroll.
o Have generated 64% of net new jobs in the past 15 yrs.
o Create more than half of the nonfarm private gross domestic product
o Hire 40% of high tech workers.
o Are 52% home-based and 2% franchises.
o Produce 13 times more patents per employee than large firms.

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ource: U.S. Dept. Of Commerce, Bureau of Census

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Category: Features