Small businesses are often times called the backbone of this great nation. They provide more jobs, more revenue and more ‘American Dreams’ than their larger corporate counterparts. However, even with this statement it’s hard to really understand the vast importance that small businesses have on the economy and the numbers that support it.
We put together a list of five amazing facts that showed just how valuable these businesses are to our economy (and beyond!):
1. There are roughly 30 million small businesses in the U.S.
2. More than 500,000 are started each year.
3. These businesses employ half of all U.S. workers.
4. They represent 99.7% of all employers.
5. In total, they produce over $6 trillion in GDP each year.
(Infographic by Kristi Siedow-Thompson)