Why Small Local Businesses Continue To Survive and Thrive [INFOGRAPHIC]
byDespite what some may think, small businesses are still vital to the sustainability and growth of the U.S. economy. In fact according to the US Small Business Administration, small businesses make up:
- 99.7 percent of U.S. employer firms
- 63 percent of net new private-sector jobs
- 48.5 percent of private-sector employment
- 42 percent of private-sector payroll
- 46 percent of private-sector output
- 37 percent of high-tech employment
- 98 percent of firms exporting goods
- 33 percent of exporting value
In the infographic below, we’re presenting more information on why small, local businesses continue to survive and thrive in the U.S. We’ll start by sharing more statistics on the state of small business, then we’ll highlight a few industry growth trends, and finally, we’ll provide a handful of recommendations and strategies that every small business can use to boost efficiency and compete with other companies in the digital age.
