Business Opportunities Weblog

October 4, 2005 by Dane Carlson | 0 Comments

Small business still drives the economy, and this FAQ, a PDF from the Small Business Administration, entitled SBA Office of Advocacy 2005 Small Business FAQ really illustrates why:

• Represent 99.7 percent of all employer firms.
• Employ half of all private sector employees.
• Pay 45 percent of total U.S. private payroll.
• Create more than 50 percent of nonfarm private gross domestic product (GDP).
• Supplied more than 23 percent of the total value of federal prime contracts in FY 2004.
• Produce 13 to 14 times more patents per employee than large patenting firms. These patents are twice as likely as large firm patents to be among the one percent most cited.
• Are employers of 41 percent of high tech workers (such as scientists, engineers, and computer workers).
• Are 53 percent home-based and 3 percent franchises.
• Made up 97 percent of all identified exporters and produced

via Jeff Cornwall.

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Tags: Entrepreneurial Lifestyle, Government