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Proof is in the stats: U.S. small businesses are robust, resilient

On Behalf of | Nov 23, 2020 | Business Law

Stacker is an online media entity that, in its own words, stresses a predominant company goal of “transforming expert analysis into digestible stories.”

That aim seems to be solidly accomplished in a recent Stacker piece spotlighting the vitality, staying power and unflagging growth of small businesses across the United States. Reams of highlighted empirical data presented clearly and succinctly demonstrate conclusively that small companies in all corners of the country continue to be – as they always have been – the engine that drives the American economy.

The U.S. Small Business Administration defines a “small business” in New York and all other states as a commercial enterprise having fewer than 500 workers.

How prevalent are such companies, and what is their collective impact on the national scale? Stacker’s researched answers to such questions leave no doubt as to the fundamentally important role that small businesses play in virtually every economic sphere.

Here are a few takeaways from relevant data:

  • No misprint here – the SBA stresses that a stunning 99.9% of all American companies are small business entities
  • Small companies employ about 60 million workers
  • Approximately one-fifth of small companies are family-run enterprises
  • Women are now at the helm of nearly half of American small businesses
  • Minority-owned companies are trending progressively higher
  • American entrepreneurialism spurs constant startups and continued business expansion

Business owners continuously respond to challenges and embrace new opportunities. Many of them collaborate closely with proven and empathetic business law attorneys to materially advance company goals and promote their best interests.