Small businesses are considered the backbone of America and are what many financial analysts predict will be the vehicle to drive us out of any financial downturn. A few small business stats (according to the SBA) that stick out to us:
- There are 27+ Million Small Businesses in the US.
- Between 60% & 80% of all new jobs created in our country can be attributed to Small Business.
An amazing infographic by Intuit that explores the costs of starting a new small business in the United States compared to other markets around the world. The graphic shows that starting a business in the US is relatively easy compared to the largest markets in Asia and a few places in Europe. It also seems that the survival rate of businesses in the US is much larger than any other region in the study. These numbers should go a long way towards small business optimism in comparison to our direct international competitors.
This infographic takes a look at Small Businesses’ contributions to economic activity state-by-state: