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MICROBUSINESSES ARE THE ECONOMY

MICROBUSINESSES ARE THE ECONOMY




How Many Microbusinesses are there in the U.S.?

The 2010 data (released in early 2013) shows:

  • Total U.S. Firms: 27,845,166
Microbusinesses
  • Microbusinesses — fewer than (10) employees: 95.7% — 26,653,943 firms
  • Microbusinesses — fewer than (5) employees: 92.2% — 25,685,868 firms
  • Large businesses — 500 or more employees: 0.06% — 17,236 firms

Non-Employer Businesses
  • Non-employer Businesses – firms with NO employees: 79.4% — 22,110,628 firms
  • Employer Businesses – firms with employees: 20.6% — 5,744,538 firms
  • Employer Businesses with <ten employees: 16.3% — 4,543,315 firms
  • Employer Businesses with <five employees: 12.8% — 3,575,240 firms
  • APPROX. ONE-IN-FIVE U.S. FIRMS HAVE EMPLOYEES!

Homebased Businesses  (most recent data available)
  • Homebased Businesses — firms operated from a residence: 51.6% of all firms
  • Homebased Non-employer: 62.9% of all U.S. firms
  • Homebased Employer: 23.8% of all U.S. firms
  • Homebased Businesses needing <$5,000 start-up capital: 30.6%
  • Homebased Businesses needing >$1,000,000 or more start-up capital: 1.5%
  • Homebased Women owned Businesses: 58.2%
  • Homebased Men owned Businesses: 49.1%
  • Homebased Non-minority owned Businesses: 54.4%
  • Homebased Minority owned Businesses: 46.5%

One adult in seven adults (18 or over) in America owns or is a principal in a Microbusiness.
Yet few understand much about microbusiness owners—their strengths and fears; priorities and apathies; cares and habits; needs and numbers.  The contribution micros make is as misunderstood by policy makers and big business as women are by many men.


Even more startling is that those who create public & private sector policy and make critical economic decisions that affect microbusinesses and entrepreneurs, know little about microbusiness owners, their practices and priorities.  This cavernous lack of understanding seems to defy common understanding considering the “Age” we’re in...and the hard numbers.

We’re past the Agricultural Age, the Industrial Age and the most of the Technology Age.
We’re now in the Entrepreneurial Age that promises to be around for a very long time. Many in this field know and have publicly stated that the jobs of the 21st century are self-created jobs—the self-employed'.


Part of this significance is with 95.7% of all U.S. firms being classified as microbusinesses—firms with fewer than ten (10) employees while large businesses—firms with 500 or more employees, make up 0.06% of all U.S. firms.  In real numbers, U.S. microbusinesses make up over 27.8 million firms while 17,236 are large businesses. (2010 Data—released in early 2013) 


Links to White Papers and articles:

“The Entrepreneurial Economy”

“The Microbusiness Way of Growth”

“The Hidden Economy”

“Microbusinesses are from Venus: Big Business is from Pluto”

UNIQUE MICROBUSINESS DATA PUBLISHED FROM ISSUESLIVE: "A Profile of Microbusiness"

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