{"id":11419,"date":"2024-04-24T08:14:47","date_gmt":"2024-04-24T08:14:47","guid":{"rendered":"https:\/\/imsfund.com\/?p=11419"},"modified":"2024-04-24T08:14:47","modified_gmt":"2024-04-24T08:14:47","slug":"millions-of-us-small-businesses-have-these-things-in-common","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2024\/04\/24\/millions-of-us-small-businesses-have-these-things-in-common\/","title":{"rendered":"Millions of US Small Businesses Have These Things in Common"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>One week before <a href=\"https:\/\/www.sba.gov\/national-small-business-week\">National Small Business Week<\/a>, a new study examines some surprising things that the millions of small businesses across the U.S. have in common.<\/p>\n<p>A <a href=\"https:\/\/www.pewresearch.org\/short-reads\/2024\/04\/22\/a-look-at-small-businesses-in-the-us\/\">Pew Research Center Survey<\/a> released Monday delved into Census Bureau data points associated with 33 million small businesses across the U.S. The study defined &#8220;small business&#8221; as a firm with less than 500 workers, with at least one location.<\/p>\n<p>In the report, small businesses overwhelmingly shared one major commonality: they rarely had employees. In fact, 27 million, or about 82%, did not have any workers, and about 3 million businesses with employees only had one to four people on their payroll.<\/p>\n<p>Still, small businesses employed 56.4 million people in 2021 and achieved more than $16.2 trillion in revenue. Larger businesses with more than 100 employees scored bigger pieces of the revenue pie, though they made up less than 1% of the overall picture.<\/p>\n<p><b>Related: <\/b><a href=\"https:\/\/www.entrepreneur.com\/starting-a-business\/advice-to-turn-your-side-hustle-into-a-7-figure-business\/470819\"><b>How to Go From Side Hustle to 7-Figure Business and Beyond, According to 3 Women Who Did It<\/b><\/a><\/p>\n<p>Also, most small businesses are not <a href=\"https:\/\/www.entrepreneur.com\/growing-a-business\/these-are-americas-favorite-150-mom-pop-shops-according\/455488\">mom-and-pop shops<\/a>, according to the survey. One in 10 businesses in the U.S. were equally owned and operated by spouses, and just 27% were family-owned overall.<\/p>\n<p>It&#8217;s also not usually franchises. The majority of small businesses (95%) reported that they did not fully or partially operate as a franchise.<\/p>\n<p>A majority of the businesses surveyed, almost three in five, have been running for at least six years, and 15% were operational for over a quarter of a century.<\/p>\n<p><b>Related: <\/b><a href=\"https:\/\/www.entrepreneur.com\/growing-a-business\/simple-health-focused-product-led-to-40m-in-revenue-in-2023\/472859\"><b>They Designed One Simple Product With a &#8216;Focus on Human Health&#8217; \u2014 and Made $40 Million Last Year<\/b><\/a><\/p>\n<p>Small businesses also share a positive public perception. Most Americans (86%) indicated that small businesses positively impact the country in a separate <a href=\"https:\/\/www.pewresearch.org\/politics\/2024\/02\/01\/from-businesses-and-banks-to-colleges-and-churches-americans-views-of-u-s-institutions\/\">Pew Research survey<\/a> conducted in January. In contrast, only 53% thought positively about tech companies and colleges.<\/p>\n<p>A <a href=\"https:\/\/assets.ctfassets.net\/t21gix3kzulv\/4hW50gUYSP1vnFBWGesPJf\/dcdd24d8e3c8de820eb904d226d65227\/Small_Business_Now__The_Current_State_of_SMB_Marketing.pdf\">Constant Contact survey<\/a> released Monday presents a global picture, showing that over 80% of the 1,300 small businesses surveyed in the U.S., Australia, the U.K., and Canada expressed concern about how the economic climate will affect their business this year.<\/p>\n<p>Pew Research reports that the number of U.S. business applications has <a href=\"https:\/\/www.pewresearch.org\/short-reads\/2024\/04\/22\/a-look-at-small-businesses-in-the-us\/sr_24-04-22_smallbusinesses_2\/\">trending up<\/a>, with almost 1.8 million applications filed last year.\n  <\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.entrepreneur.com\/business-news\/millions-of-us-small-businesses-have-these-things-in-common\/473126\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One week before National Small Business Week, a new study examines some surprising things that the millions of small businesses across the U.S. have in common. A Pew Research Center Survey released Monday delved into Census Bureau data points associated with 33 million small businesses across the U.S. The study defined &#8220;small business&#8221; as a [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":11420,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/assets.entrepreneur.com\/content\/3x2\/2000\/1713897302-Small-Business-GettyImages-600052570.jpg?format=pjeg&auto=webp","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-11419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/11419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=11419"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/11419\/revisions"}],"predecessor-version":[{"id":11421,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/11419\/revisions\/11421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/11420"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=11419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=11419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=11419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}