Are "Mom & Pops" thriving, dying or hanging on?
The document examines the state of small businesses in the United States by analyzing metrics like number of employers and employees, estimated receipts, wage growth, and efficiency. It finds that while small businesses make up most firms, large businesses employ more workers and generate significantly more revenue. Specifically, large firms employ half of all U.S. workers while making up only 0.3% of all companies, and their receipts have grown twice as fast as small businesses since 1992. However, some industries like wholesale trade, construction, healthcare and professional services have seen stronger growth for small firms from 2002-2007. Overall, the document concludes that most small businesses are barely hanging on, though some thrive in particular sectors.
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Are "Mom & Pops" thriving, dying or hanging on?
- 1. Are Small Businesses in the U.S. Thriving, Dying or Hanging On? Source: http:// www.census.gov/econ/susb/index.html
- 3. First, let’s look at how they stack up in terms of: Number of Employers (Firms) Number of Employees Estimated Receipts Avg. Wage (Payroll) Efficiency (Receipts per Employee) Receipt Growth Rate
- 4. Then, we’ll see whether small businesses in some industries are faring better than in others
- 7. A: For every 1 firm with more than 100 employees, there are 55 with less than 100 employees
- 9. A: For every 5 employees working at a company with less than 100 employees, there are 9 working at a company with more than 100 employees
- 11. A: For every $1,000 received by a company with less than 100 employees, a company with more than 100 employees receives $157,000 per year
- 13. A: Between 1992 and 2007, the largest firms (>500 employees) nearly doubled their receipts, while small firms (<100 employees) lagged inflation
- 14. The Big Get Bigger (1992-2007) Growth of U.S. Private Firms, by Size (Number of Employees) 1992-2007
- 16. A: In 2007, an employee of a large firm earned 33% more per year than an employee of a micro firm, on average
- 18. A: In 2007, large firms pulled in 53% more per employee than micro firms, on average
- 22. A: Between 2002 and 2007, Wholesale Trade, Construction, Health care, and Professional Services grew the most Growth of Small Businesses (<100 Employees), by Industry (2002-2007)
- 24. A: In 2007, Utilities and Wholesale trade Small Businesses brought in the most per firm, on average