(Update: For 2016 statistics, go here.) Today, the SBA’s Office of Advocacy released its annual “small business profiles” for states and territories. The profiles include information on the number of firms, employment, demographics and other topics using the most recently available government data.
You can find your state’s profile on the SBA’s Office of Advocacy website.
National highlights of the profile include the following (and most recent) small business statistics:
- The U.S. is home to 28 million small businesses.
- Small businesses represent 99.7 percent of all businesses with employees and employ about 55 million of the nation’s private-sector workforce.
- Small businesses with fewer than 100 employees have the largest share of small business employment.
- The top three small business industries with the most jobs include:
- Healthcare and social assistance
- Accommodation and food services
- Retail trade
- Most small businesses are sole proprietors. Annual income from sole proprietorships increased 7.1 percent in the 3rd quarter of 2013 and totaled $1.2 trillion.