Small business definition and statistics
What is a small business, and how many of them are there in the United States?
According to the US Small Business Administration Office of Advocacy’s 2021 Small Business Profile report, there were 32.5 million small businesses in the US.
This report defined small businesses as firms with fewer than 500 employees.
61.2 million employees, or 46.8% of all active employees in the country, worked for small businesses.
81.4% of employees were self-employed, while 16.6% worked in firms of 2-19 employees, and the remaining 2% or so in firms of 20-499.
Professional, Scientific, Technical Services, Construction, Real Estate, Transportation, Retail, and Health Care industries were among the top employers.
Women represented 47.3% of all small business employees, Racial Minorities 24.8%, Hispanics 17.6%, and Veterans 5.0%.
BorrowPartner provides small businesses with easy, flexible, and rapid access to capital via an expansive selection of business financing solutions, all customized to your business needs.
