Darryl L. DePriest is the seventh presidentially appointed and Senate-confirmed Chief Counsel for the Office of Advocacy.
Prior to joining the Small Business Administration Office of...
Small Businesses Employ 55 Million Workers, Key to States’ Economic Recovery
WASHINGTON, D.C. – Small businesses are leading most states’ economic recovery, according to a new state-by-state report released today by the U.S. Small Business Administration (SBA) Office of Advocacy, an independent office that serves as the voice for small business within the federal government.
The Small Business Profile for the States and Territories, an annual analysis of each state’s small businesses, finds that small businesses employ 55 million workers nationwide, nearly half – 49.1 percent – of the private-sector labor force. All in all, the country’s 27.8 million small businesses now represent 99.7 percent of all employers in the United States. The report also states that self-employment improved over the last decade nationwide, while minority self-employment saw the largest growth.
“From coast to coast, states all across the nation are depending on small businesses to lead them out of this economic downturn,” said Dr. Winslow Sargeant, Chief Counsel for Advocacy. “Most of the country’s small businesses continue to be very small, having fewer than 20 employees, but they paint a big picture of a recovering America. Advocacy’s state-by-state analyses give us a clear understanding of just how important small businesses are to each state’s economy – and to the nation.”
Each state’s small business profile contains detailed information about the number and type of businesses in each state, business owner demographics, industrial makeup, business turnover and income and finance. Most data are also presented in comparison with similar data over time. Each state’s small business profile can be read or downloaded by visiting the Office of Advocacy’s website at www.sba.gov/advocacy/848.
Highlights of the national small business profile include:
The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The presidentially appointed and Senate confirmed Chief Counsel for Advocacy advances the views, concerns and interests of small business before Congress, the White House, federal agencies, federal courts and state policymakers. Regional advocates and an office in Washington, D.C., support the Chief Counsel’s efforts. For more information, visit www.sba.gov/advocacy, or call (202) 205-6533.