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Top Ten Reasons SBA is Sweet on Small Business

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Top Ten Reasons SBA is Sweet on Small Business

By Karen Mills, Former SBA Administrator
Published: February 8, 2013 Updated: February 11, 2013

It’s February—that time of year filled with candy hearts, boxes of chocolate, and the chance to let the people you love know exactly how you feel.  While Cupid may be busy this Valentine’s day, we at the U.S. Small Business Administration are just as busy making sure that America’s small businesses know how much we care.

SBA hearts small biz

For SBA employees—from our national headquarters to our local offices around the country—helping America’s small businesses grow and thrive isn’t just our job; it’s our passion.  And, even though we can’t send roses to the millions of small businesses that are helping strengthen the American economy year-round, we won’t blush to admit that this Valentine’s day (and every other day) the SBA is sweet on small business. Let us count the ways:
  1. Between 1993 and 2011, small firms accounted for 64% of the net new jobs created in the United States.
  2. Small businesses comprise 98 percent of America’s exporters and produce 33 percent of all export value.
  3. Small businesses create more than 46 percent of the American nonfarm private gross domestic product (GDP).
  4. Small businesses create 43 percent of all high-tech employment.
  5. Home-based businesses account for 52 percent of all small businesses.
  6. More than 7.8 million businesses are owned by women.
  7. Veterans also own more than 3.7 million small businesses, and are at least 45 percent more likely to be self-employed in the private sector workforce than those with no active-duty military experience.
  8. Small businesses received over $90 billion in Federal contracts in FY 2011. 
  9. Small, high-patenting firms produce 16 times more patents per employee than large patenting firms.
  10. With approximately 28 million small businesses in the United States, employing 60 million Americans, small businesses employ half of the private sector workforce

Are you sweet on the small businesses in your community? Let us know by sending us a tweet using hashtag #SweetOnBiz

 

About the Author:

Karen Mills

Former SBA Administrator

Karen Gordon Mills is the Former Administrator of the U.S. Small Business Administration. The SBA helps both Main Street and high-growth small businesses get access to capital, counseling, federal contracts, disaster assistance and more.

Comments:

I don't think the economy can be properly upheld without small businesses. They really do provide plenty of jobs and plenty of stability in harsh economic climate. So it's definitely a good think the SBA's so supportive of them.
Thank you for helping millions of people to make a difference by building a small business, and I am very glad to hear it. we also implement marketing with love, so that everyone is happy with our service.
As entrepreneurs are backbone of creativity and productivity as small businesses stimulate the growth of economy. It is the stabilize force of economy strength. Small business association is play its role with very responsibility and also giving opportunities to small business owners to perform their part in progress of their country.
Thanks for the great reading! Small business is inportant I agree. I have come back to the site to get more advice on how to grow my business  This post was edited to remove a link. Please review our Community Best Practices for more information about how best to participate in our online discussions. Thank you. .I am off to a great start thats to your team
Karen, This was a great article!! I very much enjoyed learning so many different facts about small businesses and their contribution to the country. Looks to me that small businesses are invaluable to the economic growth and prosperity of our communities.
Attention Ms.Karen Gordon Mills: it is an Excellent Start to 2013!; Thank You for Your Service at U.S SBA. - 41 World USA Global Company ''For One World & Future:..Vision Growth Relationships Service & Trust'' ''LSE La Crosse American Eagle USA2100 Hybrid Clean Energy Generators'' Home: ''USA Financial Freedom Trusts 1 & 2'' U.S Debt Procurement Plan
Small businesses has been a backbone for the US economy since a long time. Even US government is putting a lot of stress on development of such businesses. All I can say that Government should make proper arrangements for loans at a very small interest rates to allow small businesses to grow to the fullest.
I love your article. Smile. Sandy J.
Dear Ms. Karen Gordon Mills, Thank you for the highly informative and interesting article. I shall share it with my students. Currently we are exploring ways to fund a business, and your contribution to that is invaluable. Thank you,

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