Small Business Facts and Figures

A business starts with an idea.  The idea concerns a product or service that can be sold to a consumer.  The good ideas make the life of the customer easier, better or allow him/her to do new things. 

The Small Business Administration defines a small business as an enterprise having fewer than 500 employees.  There are 28 million small businesses in the United States.  More than 75% of these (22 million) are known as “non-employer” businesses, which means that they have no employees other than the owners.  85% of non-employers choose to operate without a formal business structure.  These business owners are known as “sole proprietors.”  Non-employers account for almost 1 trillion dollars of revenue (GDP) each year.

One-half of the United States workforce (60 million) work for small businesses and two-thirds of all new jobs are created by small businesses.

The fastest growing sectors are auto repair facilities, beauty salons and dry cleaners.

1 in 10 Florida residents own their own business.  97% of these Florida businesses have less than 20 employees, create 80% of Florida’s jobs and are responsible for 75% of Florida’s revenue (GDP).

Do you have an idea for a product or service that will improve the lives of others?  Your local Small Business Development Center consultant can help you evaluate the feasibility of your concept.  Statistics show that entrepreneurs who seek business assistance stay in business longer, hire more employees and generate more revenue than businesses that struggled along on their own.  

The SBDC has 250 consultants and 40 offices in Florida.  The newest addition to the SBDC network is the North Central Florida office.  Our confidential consulting is available at no charge.  Please call us (386-362-1782) if there is any way we can help you start and grow your business.

Mark Yarick is a certified business analyst with the Small Business Development Center (SBDC) in North Central Florida and is hosted by the University of North Florida in the offices of the Suwannee County Chamber of Commerce.