Even though we celebrate Small Business Saturday, most people love to celebrate small businesses throughout the year. Are you curious about the state of small businesses in 2020? Then look no further. We have vetted, categorized, and curated up-to-date information about small business below. Click to jump to a particular category or continue reading for all of the small business stats.

Top Small Business Statistics

  • More than 99.9% of U.S. employers are considered small business owners. (Cision)
  • There are 30.7 million small businesses in the U.S. (SBA, 2019)
  • Small businesses in the United States employ 58.9 million people. (SBA)
  • 47.5% of the U.S. popular work for a small business. (SBA)
  • 38.71% of small business owners have a college degree. (Kauffman)
  • About 543,000 new small businesses are created every month. (Yahoo)
  • 66% of small businesses will outsource services to other small businesses. (Freshbooks)
  • 64% of small businesses start with less than $10,000. (FSB)

Women-Owned Small Business Statistics

  • There are 11.6 million women-owned businesses in the U.S. (NAWBO)
  • Between 1997 and 2017, entrepreneurship in women grew by 114%. (Fundera)
  • Women-owned businesses in the U.S. generates 1.7 trillion in sales. (NAWBO)
  • Women-owned businesses in the U.S. employ nearly 9 million people. (NAWBO)
  • 5.4 million small businesses are majority-owned by women of color in the U.S. (NAWBO)
  • 4.2% of all woman-owned businesses have revenues of 1 million or more.

Women-Owned Small Business StatisticsSmall Business Employment Statistics

  • The majority of small-business owners claim their employees stay with their business for at least 4 years. (NSBA)
  • Wyoming and Montana employ the most people in small businesses. (Census)

Small Business Marketing Statistics

  • Social media marketing is the leading marketing strategy for small businesses. (Statista)
  • 61% of small businesses invest in social media marketing. (Clutch)
  • 89% of small business owners believe search engine optimization is the most effective digital marketing strategy. (Iron Paper)

Small Business Challenge Statistics

  • 50% of small businesses fail within their first five years. (INC)
  • The biggest challenge for small businesses is to generate new business. (Statista)
  • 60% of small businesses that get hacked will close within 6 months of business. (Cyber Security Ventures)
  • About 2/3 of businesses survive two years in business, but only 1/3 of business will survive 10 years.
  • 82% of businesses cited that cash flow problems were the main reason for business closures. (Entrepreneur.com)

Small Business Statistics During COVID-19 Shutdowns

  • The Paycheck Protection Program (PPP) supported 51.1 million jobs and as much as 84% of all small business employees. (SBA)
  • 650,000 companies have received PPP to support their employees. (Treasury)
  • 73,000 small businesses in the U.S. had permanently closed as of July 10, 2020. (Yelp)
  • An estimated 25-36% of small businesses could close permanently as a result of the COVID-19 pandemic. (McKinsey)
  • The industries most impacted by the COVID-19 pandemic are accommodations and food services, arts and recreation, healthcare and social assistance, educational services, and mining, oil, and gas. (McKinsey)