Pat Brown-Dixon is the regional administrator for the SBA’s Region VII, which encompasses Kansas, Missouri, Iowa and Nebraska.
The Small Business Administration Office of Advocacy recently released a new Frequently Asked Questions. In it, the Office of Advocacy provides the statistical answers to a number of questions.
SBA by the Numbers
According to the report, in 2011 there were 28.2 million small businesses in the United States, defined as independent businesses with fewer than 500 employees. Small firms accounted for a majority (63 percent) of net new jobs created between 1993 and 2013. Small firms in the 20-499 employee category led job creation.
About 10-12 percent of firms with employees open each year, and about the same amount close. Nonemployer firms have turnover rates that are three times higher than that for employer firms. Business bankruptcies in 2013 declined from the previous year.
Women-owned firms have increased as a share of total business over the years, but they remain, on average, smaller than male-owned firms. In 2012, 36 percent of business owners were women. More than 10 percent of business owners were Hispanic in that same time frame.
These are just some of the highlights from the report. For all the data and details, go to Frequently Asked Questions.
Content contributed by Kate Hodel, MOSourceLink. MOSourceLink is a proud affiliate of U.S.SourceLink, America's largest resource network for entrepreneurs.