2019 Small Business Statistics
As of 2018, there are 30.2 million small businesses in the United States. Small businesses are an essential part of our economy’s backbone. Small businesses play a big role in creating new jobs and contributing to the community. Being an entrepreneur takes courage, patience, and a lot of hard work. These individuals are motivated enough to stray off the yellow brick road and, instead, create their own path to success. Many people are hesitant to take the risk, but others are driven by the idea of succeeding as their own boss and the freedom that comes with it. As a mother and a business woman having my own business has allowed me more time with my children over the years as well as controlling my time and pace of growth. This is not an impossible dream!
In honor of national small business month, here are some statistics for you:
- 8 million of small businesses are minority owned
- Of these minority-owned businesses, 47% are owned by minority women
- 5% of entrepreneurs in the United States are immigrants
- 9 million of small businesses are women-owned
- Happiness Level:
- A substantial 53% of business owners surveyed ranked their happiness at 9 or above, on a scale of 1 to 10 (10 being the happiest).
- Confidence Level:
- Small business owners aren’t just happy in their roles, they are also confident in the state of small business in today’s political climate
- Only 24% of small business owners surveyed rated their confidence under 5 on a scale of 1 to 10 (10 being the happiest)
- Sources: (https://www.guidantfinancial.com/small-business-trends/, 2018)
As a small business owner, my main goal has always been to provide a service I am proud of. I encourage everyone to channel their inner entrepreneur and brainstorm a few ideas. Think about what motivates you to get out of bed in the morning and use that as inspiration to possibly start your own small business. We are all capable of taking an idea and building it into our own business, from the ground up, brick by brick. Don’t be afraid to dream big! Also, don’t forget that almost every small business is created with the idea of catering to the community. So, this month take some time to explore your local businesses to show them your support and wish them a happy national small business month!