Small Businesses are Big Business in the U.S.
You might think that big business is the engine that makes our economy go, but you might be wrong. More than half of all businesses in the US have five employees or less. More than 22 million businesses in the US are classified as “nonemployers,” companies that are sole proprietorships or paying no employees. You can find these numbers for yourself at the U.S. Small Business Association website, but I’ve pulled out some interesting statistics for you.
For example, nonemployer businesses pull in more than $1 trillion in receipts annually, according to the U.S. Census Bureau.
“Nonemployer businesses run the gamut from old-fashioned family-run corner stores to home-based bloggers,” said William Bostic Jr., the Census Bureau’s associate director for economic programs. “In some cases, the business may be the owner’s primary source of income, such as with real estate agents and physicians, but in other instances, they may operate the business as a side job, such as with babysitting and tutoring.”
Beyond the sole proprietor, businesses with less than 10 employees account for more than $400 billion in annual payroll and employ about 9 million people (numbers from the U.S. Small Business Association). When you add in all of the businesses under 20 employees annual payroll grows to more than $700 billion.
There’s nothing small about small business in America and the numbers prove it. The proliferation of co-work spaces makes its easier than ever to be an entrepreneur and using Voice over IP and other cloud services can help you present a professional face to your customers from day 1.
The truth is, there’s nothing small about small businesses except the name, and Phone.com is proud to have thousands of these businesses as clients and partners. Phone.com was built specifically for your business and our features are designed to put the power of an enterprise PBX at your fingertips.