6 Small Business Statistics: Growth and Expansion
The Small Business Association recently conducted a study on the growth of small business across the U.S. Entrepreneur-led businesses are booming — with little sign of slowing — and the SBA has collected the stats to prove it.
Small businesses are defined as having fewer than 500 employees, though the vast majority come nowhere near that figure. There are over 28 million small businesses in the U.S., 98% of which have less than 20 employees (full- and part-time).1
Let’s take a look at some of the figures that best demonstrate the growth of small businesses in the U.S.