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.

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