Contributions of Small Businesses
May 5th, 2006The National Federation of Independent Business (the nation’s largest small-business advocacy group) has released some interesting statistics about the role of American small businesses:
America’s No. 1 job creator
- 99.7% of all employer firms
- 50% of all private sector employees
- 60-80% of net new jobs annually over the last decade
- 45% of total U.S. private payroll
Powerful Voice in Public Affairs/Politics
- 95% of small-business owners are registered to vote
- 84% usually do vote
- 3% run for office
Steady Sector of the American Work Force
- 46% of employers intend never to fully retire
- 23% plan to retire at 65+ (Of those, 50% at 70 or older)
- 60% of those intending to retire expect to phase-out gradually
Contributor to Local Community
- 91% of small-business owners contributed in the last year through volunteering, in-kind contributions, and/or direct cash donations
- About 41% contributed all three ways
- The average value of contributions is $6,600 per small employer (including noncontributors!) – roughly $40 billion in total
