30 Insightful Small Business Statistics

Looking to learn the ins and outs of small businesses? One of the best ways to familiarize yourself with these ventures is by taking a look at the numbers behind them. Here are small business statistics, from success rates to finances and marketing, that will help you form your own business plan or shore up your company’s deficiencies.

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Growth and Survival Statistics

How many small businesses are in the United States?

As of 2016, there were 28.8 million small businesses, which accounted for 99.7% of US businesses. (Source: SBA Gov 2016) – Tweet This

In which industries are startups most likely to succeed?

Startups in the following industries are the most likely to last 4 years or more: Finance Insurance & Real Estate, Education & Health, Agriculture, Services, and Wholesale. (Source: Statistic Brain Research Institute 2016) – Tweet This

What stops small businesses from growing and surviving?

The greatest challenge to small business growth and survival is economic uncertainty, followed closely by lower consumer spending and regulatory burdens. (Source: (NSBA) National Small Business Association 2016) – Tweet This

What percent of small businesses fail in the first year?

50% of small businesses will survive 5 years or more. Approximately one-third will survive 10 years or more. (Source: Bureau of Labor Statistics 2016) – Tweet This

What percentage of U.S. businesses are home-based?

As of 2014, 52% of U.S. businesses were home-based. (Source: SBA 2014) – Tweet This

How much are small business owners paying themselves?

86.3% of small business owners said they take a yearly salary of less than $100k. 30.07% of small business owners don’t take a salary. (Source: Fundera 2017) – Tweet This

What percentage of new jobs come from small businesses?

Small businesses provide 55% of all jobs and 66% of all net new jobs since the 1970’s. (Source: SBA 2017) – Tweet This

How many businesses open and close?

In 2013, there were 860,000 new businesses and 788,000 closures. (Source: BLS 2016) – Tweet This

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Financing Statistics

Do banks approve small business loans?

Big banks only approved around 24.1% of small business loans. Smaller banks have a much higher approval rate of around 48.9%. Alternative Lenders approved 58.2% of loan requests. (Source: Biz2Credit 2017) – Tweet This

How much is the average SBA 7(a) loan amount?

The average SBA 7(a) loan is $371,628. The maximum loan amount is $5 million. There is no minimum. (Source: (SBA) U.S. Small Business Administration 2017) – Tweet This

How much capital is needed to start a small business?

64% of small business owners start with $10,000 or less, and are primarily self funded. (Source: Intuit 2014) – Tweet This

What percentage of small businesses are self-financed?

75% of small businesses used their own personal finances as primary startup funding. Other funding options were banks at 16% and family/friends at 6%. (Source: BlueVine 2015) – Tweet This

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Women in Business Statistics

How many women-owned businesses are in the United States?

There is an estimated 11.3million women-owned businesses in the United States as of 2016. (Source: Womenable 2016) – Tweet This

What are the fastest-growing states for women-owned businesses?

As of 2016, the top fastest-growing states for women-owned firms are Florida, Georgia, and Texas. (Source: Womenable 2016) – Tweet This

What percentage of U.S. businesses are owned by women?

Women are now the majority owners of 38% of US businesses. (Source: Womenable 2016) – Tweet This

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Minority-Owned Business Statistics

How many minority women-owned businesses are in the United States?

There are nearly 5 million minority women-owned firms in the U.S. This accounts for nearly 44% of women-owned businesses. (Source: Womenable 2016) – Tweet This

How many minority-owned businesses are in the United States?

As of 2012, there were 8 million minority-owned busineses in the United States. (Source: United States Census Bureau 2015) – Tweet This

What percentage of U.S. businesses are owned by minorities?

In 2012, minority-owned businesses accounted for 28.8% of U.S. businesses. (Source: United States Census Bureau 2015) – Tweet This

How many veteran-owned businesses are in the U.S.?

In 2012, there were 2.5 million veteran-owned businesses. (Source: United States Census Bureau 2015) – Tweet This

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Marketing Statistics

Who handles marketing for small businesses?

47% of small business owners handle marketing efforts on their own. (Source: LeadPages 2016) – Tweet This

How many small business have a website?

72% of their respondents reported having a website for their business. (Source: Infusionsoft 2015) – Tweet This

What percentage of small businesses use social media?

96% of small businesses utilize social media marketing, and 92% say that it is important for their business. (Source: Social Media Examiner 2015) – Tweet This

How many small businesses have mobile apps?

Fewer than 25% of small businesses had a mobile app. Nearly half of the small businesses will be likely to have a mobile app by 2017 or later. (Source: Clutch 2016) – Tweet This

What percentage of small businesses use mobile marketing?

Only 22% of small businesses currently use mobile marketing. (Source: MatchCraft 2015) – Tweet This

How much money is spent on mobile advertising?

Mobile advertising accounted for more than half (51%) of the record-breaking $72.5 billion spent by advertisers. (Source: IAB 2017) – Tweet This

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Hiring Statistics

What makes employees happy?

72% of small-business employees say an improvement in their benefits offerings would make them even happier. (Source: Aflac 2017) – Tweet This

What percentage of applicants are not qualified for job openings?

45% of small businesses found few or no qualified applicants for job openings. (Source: NFIB 2017) – Tweet This

How long does it take to hire a new employee?

It takes an average of 27 days to hire a new employee. The best candidates are off the market within 10 days. (Source: Undercover Recruiter 2016) – Tweet This

Should you use social media to find new employees?

79% of candidates are likely to use social media in their job search. (Source: Glassdoor 2013) – Tweet This

Where do you find quality employees/hires?

48% of businesses say their quality hires come from employee referrals. After that was third-party website or online job boards at 46%. In third was social professional networks at 40%. (Source: LinkedIn 2017) – Tweet This

For more incredibly useful hiring statistics, check out our article.

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These small business statistics give a good look into what makes small businesses tick – and potential problems they may face. Be sure to take these statistics into account when forming your business plan so that you can ensure that your company survives and thrives.