SMALL BUSINESSES COMPRISE: ALL FIRMS with paid employees ALL FIRMS EXPORTING FIRMS KNOWN EXPORT VALUE PRIVATE SECTOR EMPLOYEES PRIVATE SECTOR PAYROLL August, 2018 WHAT IS A SMALL BUSINESS? BED, [2000-2017] Small businesses accounted for 66% of net new jobs. NUMBER OF FIRMS SBO [2012] 15M 20M 19.2M 8.0M 273K 1.9M 2.5M 2.6M 3.3M 2.5M 9.9M 14.8M 10M 5M Nonminority Minority American Indian and Alaska Native Asian Veteran Equally Male/ Woman Owned Black or African American Hispanic Woman Owned Male Owned BDS [2015] 414K STARTUPS* 396K CLOSURES * A startup is a firm that is less than one year old. 30.2M SMALL BUSINESSES IN THE U.S. NES Nonemployer Statistics BDS Business Dynamics Statistics SBO Survey of Business Owners SUSB Statistics of US Businesses US CENSUS BUREAU BED Business Employment Dynamics, Bureau of Labor Statistics ITA International Trade Administration, US Department of Commerce 66 % 66 % NET NEW JOBS NET NEW JOBS SUSB, NES [2015], ITA [2015] 99.9% 99.7% 32.9% 47.5% 40.8% 97.6% A small business is an independent business with fewer than 500 employees. 20% Paid employees SUSB, NES [2015] 80% No employees For even more information visit www.sba.gov/advocacy