If you’re a small business owner, you’re in good company. According to a recent study, many small businesses are not only surviving, but thriving. And that’s great news for our economy, as we depend on the pioneering and innovative efforts that come from small businesses. Interested in some other interesting facts about your fellow entrepreneurs? Take a stab at answering these questions.
What are the top 5 best industries for starting a business?
- Electronic Shopping and Mail-Order Houses
- Software Publishers
- Computer Systems Design and Related Services
- Investigation and Security Services
- Management, Scientific and Technical Consulting Services
What are the riskiest small business ventures?
The highest failure rates come from independent restaurants, retail stores and direct sales.
Source: https://smallbiztrends.com/2013/03/infographic-failed-small-businesses.html
How many people work for a small business?
Small businesses employ over 57% of the country’s workforce. Sixty to eighty percent of all new jobs come from small businesses.
Source: https://ecapital.com/files/1439581232e2aeef01684e48d2ae171483135a552a.pdf
How small is small?
Over 70 percent of U.S. businesses are owned and operated by a sole proprietor.
Source: https://www.sba.gov/blogs/sole-proprietorship-popular-business-structure-right-you
What types of skills are small business owners outsourcing?
54% outsource graphic design and website design.
14% outsource marketing, public relations and advertising.
Source: http://www.waspbarcode.com/small-business-report
What is the educational background of the average American business owner?
About 51% have a college degree.
Source: https://www.census.gov/newsroom/releases/archives/business_ownership/cb11-110.html
What social media platforms do small business owners find most effective?
Social media marketers say Facebook produces the best return on investment.
Source: https://smallbiztrends.com/2016/12/social-media-marketing-statistics.html
What are hiring trends like for small businesses?
More than half (52%) of small business owners are planning to hire in 2017, with 29% hiring 3-5 employees.
Susan Bryant is a writer and editor who enjoys working on diverse subject matter and collaborating on interesting projects. She can be contacted at susanbryant7@gmail.com.