Business Statistics
188%
Millennials and Gen Zers are __% more likely to have the aim of creating a side business, compared to Baby Boomers or traditionalists (SalesForce, 2019).
48%
Minority-owned firms earn __% of the revenue of nonminority-owned firms. .
$100,000
Recent research has shown the most expensive small businesses and startups to launch are restaurants, medical offices, and manufacturing companies, needing more than $______ to get started.
4.2 roles
Small business owners are personally responsible for an average of ____ roles in their company.
$5,000
Startups in accounting, online retail, construction, and landscaping were most likely to get started with under $______ in startup costs, shown in recent research.
300,000
Women own nearly ____ businesses in 2017, employing 2.4 million workers.
63%
__% of Americans believe entrepreneurship is a good career choice.
95%
__% of entrepreneurs have at least a bachelor's degree
73%
__% of marketers believe that their efforts through social media marketing have been "somewhat effective" or "very effective" for their business.
58%
__% of minority-owned small businesses are "extremely" or "very concerned" about the financial viability of their business as of the 2020 COVID shutdowns.
66%
__% of small businesses will outsource services to other small businesses.
14%
__% of startups fail due to not regarding customers' needs.
64%
__% of surveyed small businesses use social media in their marketing strategy (The Manifest, 2019).
39%
__% of working-age adults in the U.S. know an entrepreneur personally.
10%
____ of startups fail within the first year.
1%
About __% of startups evolve into a unicorn startup, like Uber, Airbnb, Slack, Stripe, and Docker.
90%
About ____ of startups fail.
5.6% (322,076)
According to the 2018 Annual Business Survey (ABS), covering year 2017, __% of all U.S. businesses were Hispanic-owned.
1.5 million
According to the Small Business Administration, small companies create ____ jobs annually and account for 64 percent of new jobs created in the U.S. (Fundera, 2019)
$5,000
1 in 3 begin their small business with less than $_____.
19%
Although 38% of the population in the U.S. is minority, __% of businesses are minority-owned.
87%
Among all entrepreneurs engaged in early stage entrepreneurial activity, __% expect to create jobs for others driving overall economic growth
55%
Among the most common motivations, __% of respondents said that they were opening their own business because they wanted to be their own boss (Guidantfinancial, 2019).
75%
Business loans, credit cards, and lines of credit account for about __% of financing for new firms.
2 million
In 2015, startups created over _____ jobs in the U.S. alone.
69%
In 2016, __% of U.S. entrepreneurs started their business at home.
$109.36 billion
In 2018, male founders brought in __% in VC, while female founders only brought in $2.86 billion in VC.
$250,000
Individual venture capital firms receive more than 1,000 proposals a year and are mostly interested in businesses that require an investment of at least ______.
7%
Only __% of black business owners obtain a bank loan in their first year of business, compared with __% of white business owners.
2 in 5
Only _________ startups are profitable, and other startups will either break even (1 in 3) or continue to lose money (1 in 3).
10%
Other major reasons for startup failures (at least __% or above) are from pricing/cost issues, user-unfriendly products, poor marketing, and product mistiming.
500
The Small Business Administration (SBA) defines a small business as a firm which has fewer than ___ employees
1.1 million
The U.S. Census Bureau today released new estimates showing ___ million employer firms were owned by women and ___ million by minorities.
15.60%
The United States exhibits among the highest rates of early stage entrepreneurial activity in the developed world: __%.
77%
The most popular financing method for startups costs in 2018 was personal funds, at __%.
42%
The number one reason why startups fail is due to misreading market demand — this is found in __% of cases.
10 to 7
The ratio of men entrepreneurs to women entrepreneurs in 2019 is ____ to ____.
29%
The second largest reason why startups fail (__% of cases) is due to running out of funding and personal money.
39%
The second most popular reason for starting your own business includes wanting to pursue your own passion, with __% of respondents choosing this as their primary motivation.
15%
Twice as many white business owners—__% of the total—use business credit cards during their first year compared with __% of black business owners.
30.7 million
There are _____ small businesses in the U.S.
