Amazing Small Business Stats

It always amazes me how small businesses provides such an important bottom line to our economy.  Look at some of the recent Stats:

  • 27+ million small business establishments in the US
  • 60-80% of all new jobs created can be attributed to small business activities
  • Small business payrolls amount to about $1.5 TRILLION, about 30% of the nations $5 trillion payroll
  • The revenue generated by small business ventures totals nearly $8 TRILLION, 26%+ of the nations total business revenue
  • Small business establishments employ over 35% of all employees in the U.S.

This is why it doesn’t make sense to me that we consistently produce regulations which discourage small business entrepreneurs from growing their business ventures in cost effective ways.  I remember when Jay Conrad Levinson introduced his book on Guerrilla Marketing .  I used many of the strategies he talked about to build a successful chimney sweep business that my sons and I engaged in for over 20 years.    However, many of the simple and inexpensive techniques are no longer possible.  Many localities prevent you from doing anything door to door, posting signs on telephone poles, putting cards and flyers on windshields, etc.

One of my pet peeves is the Do Not Call Registry, which was originally a Federal law that was designed to regulate interstate telemarketers.  Since most states adopted those guidelines for telemarketing within their states, the DNC registry made it impossible for local small businesses to use one of the most effective ways of building a business.  So now we are left with the large, computerized, telemarketing companies that can afford to scrub phone numbers against the DNC, an undertaking that is tough for the local carpet and chimney cleaning companies.

One positive note:  According to a graphic provided by Intuit, the U.S. is still one of the most cost effective places for a budding entrepreneur to start a new business, with an average cost of only $325!!



About clayandali
Trained as a research chemist, but have been involved with Entrepreneurship for over 30 years. I have been involved in photography for 41 years. Ali is a graduate of the Ohio Institute of Photography in Dayton, OH. She loves both portrait and landscape work.

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