SBA's Small Business FAQ Updated
Small business statistics highlighted in the 2005 Small Business FAQ
include:
* Small businesses represent 99.7 percent of all employer firms.
* Over the past decade, small business net job creation fluctuated between 60 and 80 percent.
* Small businesses generate more than 50 percent of the nonfarm private gross domestic product (GDP).
* Two-thirds of new employer establishments survive at least two years after start-up, and 44 percent survive at least four years.
* Small businesses employ half of all private sector employees.
* Very small firms with fewer than 20 employees spend 45 percent more per employee than the largest firms to comply with federal regulations.
* Minorities own 4.1 million firms that generate $694.1 billion in revenues and employ 4.8 million workers.
* Women own 6.5 million businesses that generate $950.6 billion in revenues, and employ 7.2 million workers.
* In 2004, an estimated 580,900 employer firms opened while an estimated 576,200 closed.
