According to a just published report by the Small Business Administration, businesses with 20 employees or less account for 90 percent of all U.S. businesses and have created 97 percent of all new jobs. This data is just one statistic based on Census data from 1988-2004, the most recent year available.
Other information in the report includes job creation, business births and deaths, industry growth, and regional differences. The states representing the highest number of new small businesses in urban areas for the last fiscal year of this time period are California, Florida, New York, and Texas.In terms of more rural regions, Texas and Missouri have experienced the greatest growth of new small businesses.
In summary, small businesses grew more in this last year than the previous year because of the small numbers of firm closures and the overall increase in new small businesses.
Hot "growth" cities such as Las Vegas and Orlando have experienced notable population growth in the last few years of this study, and small business new firm growth in these cities reflect the overall population growth.
The study cites that as the national economy prospers, the average small business company size is inclined to increase.
A new feature of the study is the addition of state specific data, not just for this time period but also going back into the mid-1990s. This way the SBA will be able to track market segments' impact by geographic region.
Shivonne Byrne, Innuity CMO
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