An updated and expanded Frequently Asked Questions about Small Business in the U.S. (FAQ) is hot off the presses from the Small Business Administration (SBA). The FAQ features some great statistics on the current size and scope of small businesses in the U.S. and their recent performance. According to the SBA there are currently 27.9 million small firms (firms with less than 500 employees) across the U.S. accounting for:
- 99.7 percent of U.S. employer firms,
- 64 percent of net new private-sector jobs,
- 49.2 percent of private-sector employment,
- 42.9 percent of private-sector payroll,
- 46 percent of private-sector output,
- 43 percent of high-tech employment,
- 98 percent of firms exporting goods, and
- 33 percent of exporting value.
Read the SBA’s full FAQ here and be sure to visit our Business Advising page to learn how PCV is helping small businesses continue to grow and add jobs in a challenging economy.