There are millions of small businesses across the United States traveling the same road each and every day. Small businesses fuel our economy and provide jobs for millions of people.
Here are some interesting facts you may not have known about small businesses:
1. The 23 million small businesses in America account for 54% of all U.S. sales
2. Small businesses provide 55% of all jobs and 66% of all new jobs since the 1970s
3. The 600,000 plus franchised small businesses in the U.S. account for 40% of all retail sales and provide jobs for some 8 million people
4. The small business sector in America occupies 30-50% of all commercial space, an estimated 20 to 34 billions square feet
5. The number of small businesses in the U.S. has increased 49% since 1982
6. Since 1990, as big business eliminated 4 millions jobs, small businesses added 8 million new jobs
People may think small businesses do not have a huge affect on our economy. However, as a whole, they make up 55% of all jobs in the U.S. It is important for new entrepreneurs to understand the impact their small business can have!
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