![]() The majority of business owners are dropouts or never went to college. Most small business owners don’t have a college degree. The lucrative salaries along with other benefits like considerate vacation policies and providing opportunities to advance give SMBs a clear advantage over big companies. However, small business employment statistics show that 37% of surveyed business owners offer higher salaries to make their businesses more appealing to candidates. Small businesses face challenges when it comes to finances. 37% of SMBs offer higher salaries to win employees over. On top of it, 35% of the respondents noted they find it harder to find employees now than five years ago, while 24% of them said it's harder than it was ten years ago. More than half of small business owners struggle with finding the right employee. 56% of small businesses think finding great talent is their biggest challenge. The health, beauty, and fitness services industry ranks third with 9%, followed by residential and commercial services accounting for 7% of small businesses. Retail and business services rank second with 11% each. ![]() Food and restaurants (12%) is the industry accounting for most small businesses. (McCrindle) General Small Business Stats 8. As seen in the recent small business statistics, Australia has 62% are non-employing and 98% are employing less than 20 people. Nearly all businesses are considered to be small or medium-sized companies. Small businesses are the leading force of the Australian economy. 99.8% of Australian businesses are small or medium-sized companies. At the same time, UK SMBs note a 36.3% turnover. Small businesses are responsible for 48% of the jobs in the UK.Īccounting for 99.3% of all businesses, small companies employ the majority of the UK workforce (48%). Professional, scientific, and technical activities make up for 15% of all small businesses, whereas the wholesale and retail trade and repair sector accounts for 9% of SMBs. As shown by recent small business statistics, UK sees nearly a fifth of small companies operating in the construction industry. 5.9 million businesses in the UK are small companies.Ĭlose to 6 million of all UK businesses are small companies. Texas comes next with 2,679,964, followed by Florida with 2,494,279, and New York with 2,168,799 small businesses. When observing small business statistics by state, it’s evident that California leads the pack with 4,203,260 small businesses. California is the US state with the highest number of small businesses (over 4 million). They create 1.6 million new jobs annually and are responsible for 60.6 million jobs across the US, which accounts for 47.1% of the total US workforce. Small businesses are very important to the economy. Small businesses in the US employ 60.6 million workers. 98.2% of them have less than 100 employees, and firms with less than 20 employees make up 89% of all businesses in the US. There are 31.7 million small businesses in the US.Īs US small business statistics show, 31.7 million businesses have fewer than 500 employees. For instance, starting a business takes 9 days in China, 11 in Ireland, and 18 days in India. This is significantly shorter compared to many other countries worldwide. The UK follows closely with 5 days needed to start a business there. It turns out that you can have your business up and running in less than a business week. It takes 4 days to start a business in the US.
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