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Top Ten Reasons SBA is Sweet on Small Business
by Karen Mills, SBA Administrator
- Created: February 8, 2013, 4:47 pm
- Updated: February 11, 2013, 10:53 am
It’s February—that time of year filled with candy hearts, boxes of chocolate, and the chance to let the people you love know exactly how you feel. While Cupid may be busy this Valentine’s day, we at the U.S. Small Business Administration are just as busy making sure that America’s small businesses know how much we care.
For SBA employees—from our national headquarters to our local offices around the country—helping America’s small businesses grow and thrive isn’t just our job; it’s our passion. And, even though we can’t send roses to the millions of small businesses that are helping strengthen the American economy year-round, we won’t blush to admit that this Valentine’s day (and every other day) the SBA is sweet on small business. Let us count the ways:
- Between 1993 and 2011, small firms accounted for 64% of the net new jobs created in the United States.
- Small businesses comprise 98 percent of America’s exporters and produce 33 percent of all export value.
- Small businesses create more than 46 percent of the American nonfarm private gross domestic product (GDP).
- Small businesses create 43 percent of all high-tech employment.
- Home-based businesses account for 52 percent of all small businesses.
- More than 7.8 million businesses are owned by women.
- Veterans also own more than 3.7 million small businesses, and are at least 45 percent more likely to be self-employed in the private sector workforce than those with no active-duty military experience.
- Small businesses received over $90 billion in Federal contracts in FY 2011.
- Small, high-patenting firms produce 16 times more patents per employee than large patenting firms.
- With approximately 28 million small businesses in the United States, employing 60 million Americans, small businesses employ half of the private sector workforce
Are you sweet on the small businesses in your community? Let us know by sending us a tweet using hashtag #SweetOnBiz.
About the Author
Karen Gordon Mills is the Administrator of the U.S. Small Business Administration. The SBA helps both Main Street and high-growth small businesses get access to capital, counseling, federal contracts, disaster assistance and more.SBA Community
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Comments
Julie Robert | Window Shopper | 2/14/2013 - 1:42 am
businesses stimulate the growth of economy. It is the stabilize force of
economy strength. Small business association is play its role with very
responsibility and also giving opportunities to small business owners to
perform their part in progress of their country.
survivalbraceletkits | Window Shopper | 2/13/2013 - 9:33 am
Calgary Moving Company | Window Shopper | 2/12/2013 - 12:29 pm
This was a great article!! I very much enjoyed learning so many different
facts about small businesses and their contribution to the country.
Looks to me that small businesses are invaluable to the economic growth and
prosperity of our communities.
41 World USA Global Company | Window Shopper | 2/11/2013 - 10:12 am
Thank You for Your Service at U.S SBA. - 41 World USA Global Company
''For One World & Future:..Vision Growth Relationships Service & Trust''
''LSE La Crosse American Eagle USA2100 Hybrid Clean Energy Generators''
Home: ''USA Financial Freedom Trusts 1 & 2'' U.S Debt Procurement Plan
POLAINTERNATIONAL | Window Shopper | 2/11/2013 - 6:46 am
Even US government is putting a lot of stress on development of such
businesses. All I can say that Government should make proper arrangements for
loans at a very small interest rates to allow small businesses to grow to the
fullest.
Sandyhurricane | Window Shopper | 2/10/2013 - 11:03 am
Kalaras613 | Window Shopper | 2/10/2013 - 9:27 am
Thank you for the highly informative and interesting article.
I shall share it with my students. Currently we are exploring ways to fund a
business, and your contribution to that is invaluable.
Thank you,
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