Average pay for small vs big business12/2/2023 ![]() That’s nearly half (47.1 percent) of the private sector workforce (those small businesses are also responsible for 40.3 percent of private sector payroll). Today, small businesses employ 60.6 million people in the US. But how many people do those small businesses employ-and how many new jobs are those businesses creating? How Many Americans Are Employed By Small Businesses In The United States?Ĭlearly, small businesses make up a huge part of the total businesses in this country. 99.7 percent of businesses with paid employees.How Does The Number Of Small Businesses Compare To The Total Number Of Businesses In The US?ģ1.7 million is a lot of businesses-but how, exactly, does that number compare to the total number of businesses in the country?Īccording to the SBA Office of Advocacy, there are currently 21,139 large businesses in the United States-which means that small businesses make up a whopping 99.9% of all firms in the US. Of the small businesses that employ paid workers, an employee count of between 24 and 99 is the most common. The other 9 percent-or 6 million-are employer firms with paid employees. Of those 31.7 million businesses, 25.7 million-or 81 percent-have no employees ( self-employed individuals known as “nonemployers”). The most common number of employees of those small businesses? Interestingly, none. Businesses, Nonemployer Statistics, and Small Business Pulse Survey, which collected data on how COVID impacted the small business community), as of 2020, there are 31.7 million small businesses in the United States-a solid one million increase from the 30.7 million reported in the 2019 report. Now that you understand how small businesses are defined, let’s jump into the facts-starting with how many small businesses there are in the US.Īccording to the SBA Office of Advocacy’s most recent Small Business FAQs (which uses data from the US Census Bureau’s Statistics of U.S. How Many Small Businesses Are There In The United States? Small Business Administration Office of Advocacy generally defines a small business as “an independent business with fewer than 500 employees.” The SBA, however, does have larger small business size standards for certain industries, including government contracting. Let’s take a look at the state of small businesses in the United States-how many there are, what industries they’re in, and how small business ownership contributes to the economy in the US: What Does “Small Business” Mean?įirst things first-before we jump into how many small businesses there are in the United States, let’s quickly cover how the term “small business” is defined. But how many small businesses are there in the US? What are their business demographics-or, in other words, what kinds of businesses are they? And how are those small businesses responsible for moving our economy forward? Small businesses play a huge role in creating new jobs and supporting the economy. But if you really want to get to the heart of business ownership in the United States, what you really need to explore? Small business ownership. There’s no denying the power of big companies and household name brands.
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