Tag Archives: Statistics

Micro Business Statistics and Trends

Micro or small businesses are the mainstay of the United States’ economy. They are defined as firms having fewer than five employees in all. Micro firms represent a staggering 99.7% of all the employer firms in the country. Over 50% of employees in the private sector are employed by such firms and they pay 44% of the total private payroll in the country. They have also generated 64% of all the new jobs in the market during the last 15 years.

The population favors micro businesses. Over 90% of all consumers in the US believe in supporting small businesses and believe that these businesses contribute positively to the economy through jobs and taxes.

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