Every huge company in America was once a small business.
Whether started in the spare bedroom, at the kitchen table, or by clearing out the garage, they fought through the school of hard knocks and sleepless nights to get where they are today, and are likely still facing daily hard knocks and sleepless nights.
We celebrate small business every day because 90% of our customers are those glassy-eyed and exhausted entrepreneurs, who revel every day in the fact that they are their own boss and are in control of their own destiny. If you don’t already own a small business – chances are – you work for one!
For small business owners everywhere, here are some tidbits you may not have known about yourselves:
Small business is defined as having 500 or fewer employees
There are 28 million small businesses in the U.S.
Average revenue for a small business is in the $44,000 bracket
Small businesses outnumber corporations 1162 to 1
70% of small businesses are owned and operated by a single person
57% of America’s workforce is from small business
Small businesses pay 44% of all U.S. payroll
Only 50% of businesses survive five years
70% of small business survive two-years
Immigrants make up 12.5% of small business owners nationwide
Since 1990, small businesses have added 8 million new jobs
In 2009, a small business went bankrupt every 8 minutes
One third of small businesses rely on credit for financing
Only 2% of small businesses are franchises
54% of small businesses are home-based
Up to 80% of all new jobs come from small business
Approximately 543,000 new businesses are started each month
52 percent of companies found new customers on Facebook
It takes 107 days to start a business in Brazil
Total revenue from all American small businesses is $989.6 billion
LESSON: My company offers free tips and tricks (and yes, even free one-on-one consultations) to help small business owners better understand their business credit report so they can grow and achieve their dreams. The information is available on our website, blog, and bi-monthly newsletters.