Every major company was once a small business. Consider the garage days for the founders of Microsoft and Apple.
“You need a lot of passion for what you’re doing because it’s so hard,” Steve Jobs once said. “Without passion, any rational person would give up.” (Quote link)
Some interesting facts about U.S. Small Businesses:
- There are 28 million small businesses in the U.S. — which outnumber corporations 1162 to 1
- 70% of small businesses are owned and operated by a single person
- Small businesses employ 57% of the country’s private workforce
- Small businesses pay 44% of U.S. payroll
- Only 50% of businesses survive five years — though most (70%) hit the two-year mark
- Immigrants make up 12.5% of small business owners nationwide
- A small business went bankrupt every 8 minutes in 2009
- 60 to 80% of all new jobs come from small businesses
When you consider how many small businesses surround you in your everyday lives, (your local grocery, restaurants and bakeries, spa, nail and hair salons, dry cleaners, day care, repair & service vendors and more)it is impressive to think about the amount of time, commitment and labor these hard working individuals contribute to make their businesses both come to life and stay aliveand are dependent on their local communities.
Since 1985, Citadel Information Management is proud to be an American Small Business. We wouldn’t be here today without the loyalty of our great clients and business partners. Thank you for supporting U.S. Small Businesses.
THE BOTTOM LINE: U.S. small businesses have a BIG impact on your Life!