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One week earlier than Nationwide Small Enterprise Week, a brand new research examines some shocking issues that the hundreds of thousands of small companies throughout the U.S. have in widespread.
A Pew Analysis Middle Survey launched Monday delved into Census Bureau information factors related to 33 million small companies throughout the U.S. The research outlined “small enterprise” as a agency with lower than 500 employees, with not less than one location.
Within the report, small companies overwhelmingly shared one main commonality: they hardly ever had workers. The truth is, 27 million, or about 82%, didn’t have any employees, and about 3 million companies with workers solely had one to 4 folks on their payroll.
Nonetheless, small companies employed 56.4 million folks in 2021 and achieved greater than $16.2 trillion in income. Bigger companies with greater than 100 workers scored larger items of the income pie, although they made up lower than 1% of the general image.
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Additionally, most small companies aren’t mom-and-pop retailers, in accordance with the survey. One in 10 companies within the U.S. have been equally owned and operated by spouses, and simply 27% have been family-owned total.
It is also not normally franchises. The vast majority of small companies (95%) reported that they didn’t absolutely or partially function as a franchise.
A majority of the companies surveyed, nearly three in 5, have been operating for not less than six years, and 15% have been operational for over 1 / 4 of a century.
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Small companies additionally share a constructive public notion. Most Individuals (86%) indicated that small companies positively impression the nation in a separate Pew Analysis survey performed in January. In distinction, solely 53% thought positively about tech firms and schools.
A Fixed Contact survey launched Monday presents a worldwide image, displaying that over 80% of the 1,300 small companies surveyed within the U.S., Australia, the U.Ok., and Canada expressed concern about how the financial local weather will have an effect on their enterprise this yr.
Pew Analysis stories that the variety of U.S. enterprise purposes has trending up, with nearly 1.8 million purposes filed final yr.
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