Small businesses are the backbone of both local and global economies. And while businesses spend countless hours trying to understand their customers, a comparatively small amount of ink is spent trying to understand small businesses. Now, we’ll look at some of the most recent and interesting data available on the state of small business and […]
Small Business Data
How many small businesses are there in the United States? According to the Small Business Administration, there are currently 32,540,953 million small businesses in the US. Small businesses represented 99% of all businesses in the US. Of these small businesses, 81% have no employees and 19% have paid employees. The SBA defines a small business […]
Data from the Small Business Administration shows that an average of 80% of employer businesses survive the first year, 70% survive at least two years, 50% survive at least five years, 30% survive at least ten years, and 25% survive at least fifteen years. That’s a much better survival rate than the frequently cited myth […]
Data from the US Census Bureau shows that an average of 4 million businesses are started every year. That average is from the past five years of business formation data in the United States. The onset of the pandemic in 2020 has driven a surge in new business creation, so the number of new businesses […]
Ecommerce is such a fast growing industry that the most relevant industry statistics seem like they change by the day. It’s hard to keep up.
Shopify is a commerce platform that helps entrepreneurs sell online and in-person through an ecommerce store, various social sales channels, and brick-and-mortar through Shopify POS. What else is there to know about Shopify as a product and as a company? This report will share all of the latest Shopify statistics that are publicly available as […]