As you toil away in the depths of small business ownership, do you ever stop to wonder at your place in the grander scheme of things?
Did you know that by owning a small business you are fortifying our economy? Or that the contribution you make to your local community is invaluable?
It’s easy to lose sight of these ideas when you’re dealing with the immediate issues of keeping your business running smoothly. So we want to remind you of how truly awesome, necessary, and economically incredible local and independent business is with a few fantastic small business statistics!
Everyone knows that small businesses are job creators. Start with you, add your employees, then move on to the secondary jobs you create by using local materials to make your products, and on and on. But just how many jobs is that?
- Over 50% of the working population (120 million individuals) works in a small business. [Tweet this!]
- Small businesses have generated over 65% of net new jobs since 1995. [Tweet this!]
Small business owners aren’t likely to sit around and wait for opportunity to find them. Whether they’re operating a home-based business or renting retail space, they’re getting products to market at record speed.
- Approximately 543,000 new small businesses get started every month. [Tweet this!]
- 52% of all small businesses are home-based. [Tweet this!]
We all know social media works for small business, and now we’ve got the small business statistics to prove it. Many small business owners have made it an integral part of their business plan. So what do the facts say?
- 70% of small businesses are on Twitter. [Tweet this!]
- 73% of small businesses were using social media in 2012. [Tweet this!]
- 49% of small businesses found social media marketing effective. [Tweet this!]
Ecommerce Is Most Definitely Taking Over
Some of the most exciting small business statistics show just how swiftly ecommerce is becoming a driving growth factor for small businesses.
What used to be solely the realm of corporations with huge tech budgets, ecommerce has become a relatively easy business tactic to incorporate, and allows small, independent businesses the chance to compete on a national scale.
- By 2017, ecommerce sales are estimated to grow to $434 billion. Wow. [Tweet this!]
- Ecommerce sales totaled $194 billion in 2011 and $255 billion in 2012. [Tweet this!]
- On average, yearly online spending is projected to reach $1,738 per person by 2016. [Tweet this!]
And even for those sales made in-store, chances are your customers are researching their purchases before they ever leave the house.
- 78% of all shoppers use the Internet to research and purchase products and services. [Tweet this!]
Simply put, the combination of an online presence with your physical store can make a huge difference in sales.
- Retailers with both a physical store and online presence reported an average of 23% growth through 2012! [Tweet this!]
And if you prefer to learn via pictures, check out this wonderful infographic from Docstoc!
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Know any great small business statistics? Share in the comments!