The surge of small business success in America is present everywhere you look. From the increase of individuals that support themselves by freelancing out their skills, online platforms changing how people spend their working hours, and the creation of jobs due to these new working platforms, small business ownership is booming. The following small business statistics show these economical changes, and why savvy entrepreneurs should consider developing a small business of their own.
Small Businesses are Booming
Regardless of the downsizing of larger corporations, small businesses, also known as start-ups, are increasing rapidly. Here are some statistics which showcase just how much:
- 54% of all sales in the US are conducted by 28 million small businesses.
- There are over 600,000 small business franchises in America, and these businesses provide jobs for around eight million people.
- Since the 1970’s, small businesses account for 55% of all jobs within the United States.
- Since 1990, small businesses added eight million new jobs into the US economy, while big businesses had to eliminate around four million.
What Type of People are Running Small Businesses?
As the types of small businesses around America vary from industry to industry, so do the people who manage or own them. Currently, much of small businesses are owned by males. In Canada, around 20% of businesses are owned by females or run by equal partnerships.
Within information, waste management, healthcare, recreation, and retail fields, female ownership is more prominent. With the advancement in online marketing and sales, female and equal partnership owners are more and more likely to find success in information and retail fields.
Small business firms, or those that employ one to nineteen individuals, currently make up 5,156,713 jobs in the United States. Non-employer businesses or those with no paid employees, make up 70% of all US businesses. To classify as a non-employer business, annual revenues must be over $1000.
As 52% of all small businesses are run out of homes, it is safe to say that many people who are entering entrepreneurship are family-based individuals. Luckily, many industries allow for these freelancers and entrepreneurs to run their business with flexibility and the ability to create their own schedules.
Taking Advantage of Franchise Opportunities
The world of digital marketing consists of many entrepreneurs who are running small businesses of their own, or by purchasing a franchise that they both own and operate. The WSI Network of professionals offers entrepreneurs opportunity to make a small investment in the purchase of a digital marketing franchise, an in-demand field full of passionate and knowledgeable experts.
Contact WSI today to learn more about how the exciting opportunities that small-business ownership with us can lead you to a career you love.
Resources: http://www.ic.gc.ca/eic/site/061.nsf/eng/h_03018.html
https://www.sba.gov/sites/default/files/advocacy/United_States.pdf
