It’s time for small businesses to take some credit as the little engines that could in our economy.
As employers, they are more than pulling their weight. Their numbers are up, too. Using the latest data available, the Small Business Administration Office of Advocacy reports:
-Small businesses made 40 percent of all U.S. sales in 2007.
-Small businesses are reliable employers, with 49 percent of private-sector jobs in 2010 and 64 percent of the net new jobs between 1993 and 2011.
-The number of small businesses that employ workers increased 45 percent from 1977 to 2012.
-The number of small businesses without employees increased 59 percent from 1992 to 2011.
Sources: U.S. Census, Statistics of U.S. Business, Bureau of Labor Statistics, Business Employment Dynamics, Business Dynamics Statistics, and non-employer statistics from the Economic Census