The Des Moines District Office of the U.S. Small Business Administration is sending small businesses this valentine with the top 10 reasons you should love them. I liked the quick snapshot and stats:
10. Small businesses total 97% of all Iowa employers.
9. Small businesses create more than 50% of America’s nonfarm private gross domestic product (GDP).
8. Small patenting firms produce 13 to 14 times more patents/employee than large patenting firms.
7. Iowa’s 257,376 small businesses are scattered across every community and neighborhood.
6. Small businesses employ 51.8% of workers in Iowa’s non-farm private sector.
5. Home-based businesses comprise 53% of small businesses.
4. Small businesses are 97% of America’s exporters, producing more than one quarter of all export value.
3. About 10,763 new small firms with employees started recently in Iowa (recent SBA measure).
2. Iowa has about 8,000 minority-owned businesses and 66,000 women-owned businesses, and almost all of them are small businesses.
1. Latest statistics show that small business creates 65%+ of America’s net new jobs.