The document provides information about small businesses in the United States. Some key points:
- Small businesses are defined as having fewer than 500 employees and represent 99.7% of all employer firms in the US. They employ about half of all private sector employees.
- Small businesses create 65% of net new jobs and are responsible for over half of private sector GDP. Seven out of ten new small businesses survive at least two years.
- There are approximately 27.5 million total businesses in the US, of which 5.9 million have employees and 21.4 million are nonemployers. Small businesses make up 99.9% of total businesses.
Read this white paper for a step by step calculation of turnover cost, the top 10 employee complaints that could lead to turnover, plus solutions for diminishing this costly phenomenon at your organization.
The economic and business case for global LGB&T inclusion.
Open For Business is a coalition of global companies making the case that inclusive, diverse societies are better for business and better for economic growth. The purpose of the coalition is to promote a positive business and economic case for equality of opportunity for everyone, all across the world.
They have published a comprehensive report, written by Brunswick partners, Jon Miller and Lucy Parker, which shows that successful businesses thrive in open, diverse and inclusive societies.
For more information visit: www.open-for-business.org
Read this white paper for a step by step calculation of turnover cost, the top 10 employee complaints that could lead to turnover, plus solutions for diminishing this costly phenomenon at your organization.
The economic and business case for global LGB&T inclusion.
Open For Business is a coalition of global companies making the case that inclusive, diverse societies are better for business and better for economic growth. The purpose of the coalition is to promote a positive business and economic case for equality of opportunity for everyone, all across the world.
They have published a comprehensive report, written by Brunswick partners, Jon Miller and Lucy Parker, which shows that successful businesses thrive in open, diverse and inclusive societies.
For more information visit: www.open-for-business.org
The $3 Trillion Prize for Busting Bureaucracy (and how to claim it)Michele Zanini
Authored by Gary Hamel and Michele Zanini
Around the world, productivity growth has stalled out. While some hope that a “second machine age” will reverse the slump, we think that wringing bureaucracy out of the economy offers a more promising and less speculative route to boosting productivity. By our calculations, busting bureaucracy would add $3 trillion to economic growth in the US alone. Dismantling bureaucracy won’t be easy, but it has to happen—bureaucracy must die. The $3 Trillion Prize provides a detailed blueprint for abolishing the bureaucracy tax in your organization, and everywhere else.
SMEs and Entrepreneurship: What can and do governments do?OECDglobal
Presented at the Regional Meeting on SME, Entrepreneurship and Access to Finance Indicators, organised by the OECD-MENA Investment Initiative, December 2011. http://www.oecd.org/mena/investment
The PEO Industry in Transition, by Benjamin Gordon, BGSA CEOBenjamin Gordon
Benjamin Gordon and BGSA write about how the professional employer organization (PEO) industry is evolving. Benjamin outlines mergers, acquisitions, investments, transactions, and strategic change underway in the PEO sector.
The Barbadian Entrepreneurship Context, A Youth PerspectiveKeeley Holder
A review of Barbadian Entrepreneurial Culture, looking at the difference between a small business owner and an entrepreneur and the development of Barbados and how it has influenced the entrepreneurial mindset
Startup Outlook 2012 is Silicon Valley Bank's annual survey of perceptions by startup CEOs in software, hardware, life science and cleantech sectors nationwide. This is the third annual report identifying trends in startup performance, and requirements for growth.
The survey revealed that the tech sector in the U.S. is healthy, hiring, has great business qualities and that startups are optimistic. At the same time, entrepreneurs and startup managers questioned whether the network of policies that support the U.S. innovation economy is optimized for growth.
The Silicon Valley Bank Startup Outlook report is based on an annual survey of private startup companies across the U.S. in the software, life science, hardware and cleantech sectors. This year, we surveyed startups in the UK for the first time too, and those findings can be found at svb.com/uk/startup-outlook-report. The reports found on this page break down the survey results and feature the issues that are of most importance to startup companies, such as hiring high skilled workers and dealing with the medical device tax. As more reports are completed you will find the updates here, so please mark this page and visit us again in the near future.
LOCUS, a group of engineering students at the Institute of Engineering of Tribhuvan University, is scheduled to organise LOCUS 2015, an annual technological festival, from February 20-22
The $3 Trillion Prize for Busting Bureaucracy (and how to claim it)Michele Zanini
Authored by Gary Hamel and Michele Zanini
Around the world, productivity growth has stalled out. While some hope that a “second machine age” will reverse the slump, we think that wringing bureaucracy out of the economy offers a more promising and less speculative route to boosting productivity. By our calculations, busting bureaucracy would add $3 trillion to economic growth in the US alone. Dismantling bureaucracy won’t be easy, but it has to happen—bureaucracy must die. The $3 Trillion Prize provides a detailed blueprint for abolishing the bureaucracy tax in your organization, and everywhere else.
SMEs and Entrepreneurship: What can and do governments do?OECDglobal
Presented at the Regional Meeting on SME, Entrepreneurship and Access to Finance Indicators, organised by the OECD-MENA Investment Initiative, December 2011. http://www.oecd.org/mena/investment
The PEO Industry in Transition, by Benjamin Gordon, BGSA CEOBenjamin Gordon
Benjamin Gordon and BGSA write about how the professional employer organization (PEO) industry is evolving. Benjamin outlines mergers, acquisitions, investments, transactions, and strategic change underway in the PEO sector.
The Barbadian Entrepreneurship Context, A Youth PerspectiveKeeley Holder
A review of Barbadian Entrepreneurial Culture, looking at the difference between a small business owner and an entrepreneur and the development of Barbados and how it has influenced the entrepreneurial mindset
Startup Outlook 2012 is Silicon Valley Bank's annual survey of perceptions by startup CEOs in software, hardware, life science and cleantech sectors nationwide. This is the third annual report identifying trends in startup performance, and requirements for growth.
The survey revealed that the tech sector in the U.S. is healthy, hiring, has great business qualities and that startups are optimistic. At the same time, entrepreneurs and startup managers questioned whether the network of policies that support the U.S. innovation economy is optimized for growth.
The Silicon Valley Bank Startup Outlook report is based on an annual survey of private startup companies across the U.S. in the software, life science, hardware and cleantech sectors. This year, we surveyed startups in the UK for the first time too, and those findings can be found at svb.com/uk/startup-outlook-report. The reports found on this page break down the survey results and feature the issues that are of most importance to startup companies, such as hiring high skilled workers and dealing with the medical device tax. As more reports are completed you will find the updates here, so please mark this page and visit us again in the near future.
LOCUS, a group of engineering students at the Institute of Engineering of Tribhuvan University, is scheduled to organise LOCUS 2015, an annual technological festival, from February 20-22
This report highlights the state of small businesses around the globe, covering countries like United States, India, Malaysia, Singapore, Australia, Germany, New Zealand, South Africa, Brazil, Colombia, Netherlands and many more. It could give a global perspective of the importance of Small and Medium Enterprises for the world economy, and good examples like Singapore and Dubai, UAE have created a well-defined ecosystem to support this economic group.
DETERMINANTS OF SMALL BUSINESS PERFORMANCE IN OYE LOCAL GOVERNMENT, EKITI STA...AJHSSR Journal
ABSTRACT: This study was design to access the factors determining the performance of small and medium
enterprises (SMEs) in Oye Local Government, Ekiti State, Nigeria. A total of one hundred (100) questionnaires
were administered to respondents of which one hundred fifty (100) were also returned.Descriptive survey design
was used for the study. The population of the study is one thousand two hundred and forty (1, 240), a sample
size of one hundred (100). From the strata, random selection technique was applied in choosing the number that
will represent the sample size. Data were generated using questionnaire. Data collected were presented in tables
and analyzed using descriptive statistical tool was used to analyze the data collected. The results of the analysis
show that both financial and technological determinants are significant while infrastructural determinants were
not. It is recommended that government should improve on the infrastructural facilities in the local government
to improve the performance of the SMEs.
KEYWORDS: SMEs, Determinants, Performances
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US economy. This report provides a new lens on typical small business payroll outflows, their growth, and their volatility. We summarize
key conclusions and implications here:
Declining Entrepreneurship and Business Dynamism in the United StatesIan Hathaway
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Problems Of Funding Small And Medium Scale Enterprises In Nigeriaiosrjce
This paper examined the problems of funding small and medium scale enterprises in Nigeria. The
study identified the sources of finance, types of finance available to small scale enterprises and the various
financial challenges bedevilling the smooth operation of small and medium scale enterprises and suggested the
way forward. Observation and review of relevant documents were employed in carrying out the study. It was
discovered that though adequate finance is indispensable for the successful operation of small and medium
scale enterprises, government still needs to create a more conducive environment for small scale business to
thrive by streamlining business tax policies to eliminate extortion from small scale businesses.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
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Top mailing list providers in the USA.pptxJeremyPeirce1
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FIA officials brutally tortured innocent and snatched 200 Bitcoins of worth 4...jamalseoexpert1978
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This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
1. Office of Advocacy
Frequently Asked Questions
ww w.sba.gov/advo Advocacy: the voice of small business in government
What is a small business? What share of net new jobs do small
The Office of Advocacy defines a small business as an in- businesses create?
dependent business having fewer than 500 employees. (The Small firms accounted for 65 percent (or 9.8 million) of
definition of “small business” used in government programs the 15 million net new jobs created between 1993 and
and contracting varies by industry; see www.sba.gov/size.) 2009. Much of the job growth is from fast-growing high-
impact firms, which represent about 5–6 percent of all firms
How important are small businesses to and are on average 25 years old.
the U.S. economy?
Source: U.S. Dept. of Labor, Bureau of Labor Statistics, Business Employ-
Small firms: ment Dynamics; Advocacy-funded research by Zoltan Acs, William Parsons
• Represent 99.7 percent of all employer firms. and Spencer Tracy, 2008 (archive.sba.gov/advo/research/rs328tot.pdf).
• Employ about half of all private sector employees.
• Pay 43 percent of total U.S. private payroll. How many businesses open and close
• Have generated 65 percent of net new jobs over the past 17 each year?
years. An estimated 552,600 new employer firms opened for busi-
• Create more than half of the nonfarm private GDP. ness in 2009, and 660,900 firms closed. This amounts to an
• Hire 43 percent of high tech workers (scientists, engi- annual turnover of about 10 percent. Nonemployer firms have
neers, computer programmers, and others). turnover rates three times as high, mostly because it is much
• Are 52 percent home-based and 2 percent franchises. easier for them to go into business and cease operations.
• Made up 97.5 percent of all identified exporters and pro-
duced 31 percent of export value in FY 2008. Starts and Closures of Employer Firms, 2005–2009
• Produce 16.5 times more patents per employee than large Category 2005 2006 2007 2008 2009
patenting firms.
Births 644,122 670,058 668,395 626,400e 552,600e
Source: U.S. Dept. of Commerce, Census Bureau and Intl. Trade Admin.;
Closures 565,745 599,333 592,410 663,900e 660,900e
Advocacy-funded research by Kathryn Kobe, 2007 (archive.sba.gov/advo/
research/rs299tot.pdf) and CHI Research, 2003 (archive.sba.gov/advo/re- Bankruptcies 39,201 19,695 28,322 43,546 60,837
search/rs225tot.pdf); U.S. Dept. of Labor, Bureau of Labor Statistics. Notes: e = Advocacy estimate. Bankruptcies include nonemployer firms.
Source: U.S. Dept. of Commerce, Census Bureau; Administrative Office
How many small businesses are there? of the U.S. Courts; U.S. Dept. of Labor, Business Employment Dynamics
(BED). Estimates based on Census data and BED trends.
In 2009, there were 27.5 million businesses in the United
States, according to Office of Advocacy estimates. The
latest available Census data show that there were 5.9 million What is the survival rate for new firms?
firms with employees in 2008 and 21.4 million without em- Seven out of 10 new employer firms survive at least 2
ployees in 2008. Small firms with fewer than 500 employees years, half at least 5 years, a third at least 10 years, and
represent 99.9 percent of the total (employers and nonem- a quarter stay in business 15 years or more. Census data
ployers), as the most recent data show there were 18,469 large report that 69 percent of new employer establishments born
businesses in 2008. to new firms in 2000 survived at least 2 years, and 51 percent
Source: Office of Advocacy estimates based on data from the U.S. Dept. of survived 5 or more years. Survival rates were similar across
Commerce, Census Bureau, and trends from the U.S. Dept. of Labor, Bureau states and major industries. Bureau of Labor Statistics data
of Labor Statistics, Business Employment Dynamics. on establishment age show that 49 percent of establishments
survive 5 years or more; 34 percent survive 10 years or more;
What is small firms’ share of employment? and 26 percent survive 15 years or more.
Small businesses employ about half of U.S. workers. Of Source: U.S. Dept. of Commerce, Census Bureau, Business Dynamics Statis-
the 120.9 million nonfarm private sector workers in 2008, tics; U.S. Dept. of Labor, Bureau of Labor Statistics, BED.
small firms employed 59.7 million and large firms employed
61.2 million. About half of small firm employment is in sec- How are credit conditions for small firms?
ond-stage companies (10-99 employees), and half is in firms Credit conditions are improving. In mid-2010, commercial
that are 15 years or older. Small firms’ share of employment banks began to ease the tight lending conditions on small
in rural areas is slightly higher than in urban areas; their share businesses that had begun in early 2007. And credit has con-
of part-time workers (22 percent) is similar to large firms’ tinued to flow, as loans under $1 million totalled $695 billion
share (19 percent). Small firms’ employment share remains in FY 2009. Also, after declining over the past few years, ven-
steady since some small firms grow into large firms over time. ture capital investment dollars increased in mid-2010.
Source: U.S. Dept. of Commerce, Census Bureau: Statistics of U.S. Busi- Source: Federal Reserve Board, Senior Loan Officer Opinion Survey and
nesses, Current Population Survey, and Business Dynamics Statistics; and the Call Report data; National Venture Capital Association.
Edward Lowe Foundation (http://youreconomy.org).
Updated January 2011
2. How are small businesses financed? generating $1.2 trillion in receipts; another 1.2 million firms
were 50 percent veteran owned. About 7 percent of veteran
Small businesses rely heavily upon owner investment and
business owners had service-connected disabilities in 2002.
bank credit, averaging about $80,000 a year for young
In 2008, the overall rate of self-employment (unincorpo-
firms. Startups rely about equally on the owners’ cash injec-
rated and incorporated) was 9.8 percent, and the rate was 7.1
tions into the business and bank credit; young firms receive
percent for women, 7.2 percent for Hispanic Americans, 4.7
about three-quarters of their funds from banks via loans,
percent for African Americans, 9.7 percent for Asian Ameri-
credit cards, and lines of credit. One-tenth of startups and
cans and Native Americans, and 13.6 percent for veterans.
about a third of young firms do not use capital injections.
Service-disabled veterans had lower self-employment rates
Source: Kauffman Foundation, An Overview of the Kauffman Firm Survey: than non-service-disabled veterans.
Results from the 2004–2008 Data, (Alicia Robb, E.J. Reedy, Janice Ballou,
David DesRoches, Frank Potter, Zhanyun Zhao), May 2010. Source: U.S. Dept. of Commerce, Census Bureau, Survey of Business Own-
ers; Advocacy-funded research by Open Blue Solutions, 2007 (archive.sba.
How do regulations affect small firms? gov/advo/research/rs291tot.pdf), and Office of Advocacy: The Small Busi-
ness Economy (www.sba.gov/advocacy/849).
The smallest firms (fewer than 20 employees) spend 36
percent more per employee than larger firms to comply At what rates are the self-employed taxed?
with federal regulations. The disparity is greatest in two Of the 15.5 million individuals whose primary occupation
areas: very small firms spend four and a half times as much was self-employment (incorporated and unincorporated), the
per employee to comply with environmental regulations and median personal marginal federal tax rate was 10 percent
three times more per employee on tax compliance than their in 2008. Only 4.1 percent of the self-employed were in the
largest counterparts. marginal tax bracket of 33 percent or more.
Annual Cost of Federal Regulations by Firm Size Source: U.S. Dept. of Commerce, Census Bureau, Current Population Sur-
vey, March Supplement (special tabulation).
Cost per Employee for Firms with:
Type of What research exists on the cost and
Regulation Fewer than 20–499 500 or More
20 Employees Employees Employees availability of health insurance?
All Regulation $10,585 $7,454 $7,755 A Kaiser Family Foundation study confirmed the connection
Economic 4,120 4,750 5,835 between firm size and offering health insurance. The survey
Environmental 4,101 1,294 883 shows that almost 60 percent of businesses with 3–9 workers
Tax Compliance 1,584 760 517 offer health benefits to their employees. The ratio grows to
Occupational more than three-fourths for firms with 10–24 employees, to
Safety and Home- 781 650 520 92 percent for firms with 25–49 employees, and to 99 percent
land Security for firms with 200 employees or more. Almost two-thirds of
Source: The Impact of Regulatory Costs on Small Firms, an Advocacy- workers take health insurance coverage when offered. Overall
funded study by Nicole Crain and Mark Crain, 2010 (archive.sba.gov/ in 2009, small firm employees were almost twice as likely as
advo/research/rs371tot.pdf).
large firm employees to be uninsured (27.2 percent vs. 14.7
percent, respectively).
Whom do I contact about regulations?
Source: Kaiser Family Foundation and the Health Research and Educational
To learn about pending regulation, visit Advocacy’s Regula- Trust, Employer Health Benefits 2010 Annual Survey; Employee Benefit
tory Alerts webpage, www.sba.gov/advocacy/815; to com- Research Institute, Sources of Health Insurance and Characteristics of the
ment on pending regulations, email advocacy@sba.gov. To Uninsured: Analysis of the March 2010 Current Population Survey.
report unfair regulatory enforcement, contact SBA’s National
Ombudsman at ombudsman@sba.gov.
How can I get more information?
For more information, visit Advocacy’s website:
What is the role of women, minority, and www.sba.gov/advocacy. Specific points of interest include:
veteran entrepreneurs? • Economic research: www.sba.gov/advocacy/847.
Of the 27.1 million nonfarm businesses in 2007, women • Firm size data: www.sba.gov/advo/849.
owned 7.8 million businesses, which generated $1.2 trillion • Lending: www.sba.gov/advocacy/852.
in revenues, employed 7.6 million workers, and paid $218 • Small business profiles by state and territory:
billion in payroll. Another 4.6 million firms were 50 percent www.sba.gov/advocacy/848.
women owned. Minorities owned 5.8 million firms, which • The Small Business Advocate newsletter:
generated $1 trillion in revenues and employed 5.9 million www.sba.gov/advocacy/810.
people. Hispanic Americans owned 8.3 percent of all U.S. For email delivery of Advocacy’s newsletter, press, regulatory
businesses; African Americans, 7.1 percent; Asian Ameri- news, and research, visit http://web.sba.gov/list. For RSS
cans, 5.7 percent; American Indians and Alaska Natives, feeds, visit www.sba.gov/advocacy/feed. Direct questions to
0.9 percent; and Native Hawaiian or other Pacific Islanders, (202) 205-6533 or advocacy@sba.gov.
0.1 percent. Veterans owned 2.4 million businesses in 2007,
The SBA’s Office of Advocacy was created by Congress in 1976 to protect, strengthen, and effectively represent the nation’s small businesses
within the federal government. As part of this mandate, the office conducts policy studies and economic research on issues of concern to small
business and publishes data on small business characteristics and contributions. For small business resources, statistics, and research, visit the
Office of Advocacy’s home page at www.sba.gov/advocacy.