Entrepreneurs and small business owners are more optimistic than ever — and with good reason. Recent data reveals that small businesses in the U.S. entered 2016 with healthy sales growth, increased profitability and improved hiring trends.
Below we’ve compiled small business statistics and trends from the U.S. Small Business Administration (SBA), the Small Business & Entrepreneurship (SBE) Council, and Wasp Barcode Technologies’ 2016 “State of Small Business Report”:
- There are 28,443,856 small businesses in the U.S. today.
- Approximately 50 percent of all new businesses survive five years or more, and about 33 percent last for 10 or more years.
- About 50 percent of small business owners plan to hire new staff this year.
- Seventy-one percent of small business owners anticipate revenue growth in 2016.
- Only 80 percent of small businesses are active on social media, and many underuse search engine optimization (SEO), blogging and video.
- A whopping 55 percent of small business owners aren’t tracking assets, or do so manually.
- Small businesses in the U.S. employed about 50 percent of the country’s private workforce in 2012.
- Almost all companies with employees are small businesses — 99.7 percent.
- In 2012, New York had the fourth-highest number of small businesses and the third-highest number of small business employees.
- More than 25,000 new businesses opened in New York in the first quarter of 2014.
Here at RMP Capital, we help small businesses expand their operation and reach their potential every day. Factoring your typically frozen or delayed accounts receivable provides immediate working capital, allowing you to expand product lines, order new materials from suppliers, or purchase new equipment.
Allow us to help your small business thrive in 2016! Call 631.738.0047 to learn more about how RMP Capital makes funding your business easier. For more tips, find us on Facebook, Twitter, YouTube and LinkedIn.