57 Small Business Statistics and Trends for 2020

If you are a small business owner in the United States you are in good company. According to the United States Small Business Administration, there are 32.5 million small businesses that employ over 61.2 million employees. Small businesses (firms that employ fewer workers than the average for their respective industry) make up 99.9% of all private companies in the U.S.

Small businesses may abound, but they’re not always built to last. In fact, nearly half of them fail after five years, making it important to study the statistics from the current environment to avoid making mistakes. We’re sharing 57 must-know small business statistics that can help you make better decisions for your business in 2020.

From the numbers it is easy to see that the U.S. economy depends on small businesses for employment and services. If you are an owner of one of these core parts of our economy, use these statistics to make decisions that may maximize profits, help grow your company, and improve the lives of your employees.

 

 

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