The annual State Profiles from the SBA’s Office of Advocacy provides a snapshot of small business activities in each state. Adding up state results, this means there are 33.3 million small businesses in the U.S., accounting for 99.9% of all U.S. businesses. Of these, 43.4% are owned by women, 6.1% by veterans, 14.5% by Hispanics, and 20.4% by racial minorities. Small businesses employ 61.6 million individuals, amounting to 45.9% of all U.S. employees. Between March 2021 and March 2022, 1.2 million small businesses opened, while 833,979 closed. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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