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Happy National Small Business Week: 21 Facts about Small Business That Will Help You Grow Your Small Business

By CAN Capital

2 minutes Read

By Gene Marks

Small business influencer Gene Marks is a guest blogger for CAN Capital. He is a celebrated author, columnist and small business owner.

National Small Business week starts on Monday, May 4th, which is coming up very soon. Why a whole week to celebrate America’s small businesses? It isn’t easy running your own show. But don’t get discouraged. Here are 21 facts about small businesses that will make you feel a lot better about your small business. And help you grow it, too.

  1. If you have less than 500 employees, then you’re officially a small business, according to the Small Business Administration.
  2. Are you the independent type? A loner? That’s OK. In fact, of the 28 million small businesses in the country, 22 million are “non-employers.”
  3. If you want to make the most money running a small business, you should move to the District of Columbia. Small businesses on average earn about $317,000 per year there. The state with the lowest earnings is Vermont, where small business earnings are only about $148,000 per year.
  4. If a customer is trying to find you, it may be a good idea to put your phone number on your website. Apparently, 60 percent of small businesses don’t.
  5. I know, you’re a big fan of daytime TV – and who can blame you? Well, you’re not alone because more than half of all small businesses are home-based.
  6. The Cookie Monster’s first name is Sid. Really, it is. That has absolutely nothing to do with your business, but at least you’ve got a fun fact to share with your kids or grandkids.
  7. Feel like you’re not having an impact? Well you are, particularly in your community. That’s because you return $68 of every $100 spent in your business to the local economy.
  8. Enjoy the quiet life for your small business? Then stay away from The Hartsfield-Jackson Atlanta International Airport. It’s the busiest airport in the world.
  9. Think life is tougher now than ever? It’s actually a lot better. In fact, compared with 50 years ago, the average human now earns nearly three times as much money (corrected for inflation), eats one third more calories, buries two thirds fewer children, and can expect to live one third longer.
  10. Want to be amongst more small business friends? Then move to California, the state with the highest number of small businesses in the country.
  11. If you think you can’t compete against large companies for good people, then think again: U.S. small businesses employed about half or 56.1 million of the nation’s private workforce in 2012.
  12. Your odds of success are higher than you think. In 2010, 507,129 establishments opened in the United States, and 67.7 percent survived through 2012.
  13. If you’re Hispanic, then you might find more opportunities in the construction industry. That’s because the most common industry for Hispanic business owners is construction.
  14. Want to get the attention of your local politician? Tell him or her that small businesses like yours have generated more than 65 percent of the new jobs created in the U.S. since 1996.
  15. Ready to start a new business now? Then stay in the U.S., where it takes less than five days on average. And definitely stay clear of Brazil – it takes 107 days to start one there.
  16. Feel like starting your own country? The 77 million people that make up the U.S. small business workforce would rank as the 17th most populous country in the world, just ahead of Iran.
  17. If you want to get the most work done, then Tuesday is your day.
  18. Looking for that next big hit product? Study the Rubik’s Cube – it’s the best selling product of all time.
  19. If you’re not sure how to measure your social media success, then here’s a useful benchmark: The average business has 14,709 Twitter followers.
  20. Besides Twitter, Facebook is the best home for small business. That’s because Facebook is leading among all the social websites with 82 percent of small businesses registered. It is followed by YouTube, Twitter and LinkedIn with 73 percent, 47 percent and 47 percent respectively.
  21. Are you relatively new to this country? Then start a small business! Immigrants make up 12.5 percent of small business owners nationwide.

 

Photo credit: casejustin/shutterstock.com

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