Starting a small business can be tough, which is why perseverance and passion are crucial for success. Learn more about the small business community with these surprising facts.
- A small business is defined as a company that has 500 or fewer employees.
- There are 28 million small businesses in the U.S.
- 75% of those are nonemployer businesses, meaning they are owned and operated by one individual with no additional employees.
- Small businesses employ more than 50% of the working population.
- More than half of all small businesses are based at home.
- Out of all of the nonemployer businesses, there are more sole proprietorships than corporations.
- California has more small businesses than any other state.
- The most productive day in the work week is Tuesday.
- 82% of small businesses are registered on Facebook, making it the leading social website for small businesses.
- Small businesses pay almost half of the country’s payroll.
Did any of these surprise you? Do you have any more small business facts to add?
By Samantha Haupt