U.S. Small Business Administration, the Office of Advocacy has just released the latest figures for 2004 on small business activities, and the central statement is:
Small Business has added 1.9 Million New Jobs.
Other updated profiles show that:
- In 2006, the nation had an estimated 26.8 million small businesses, of which 6.1 milion were employer firms.
- Small businesses employed 50.9 percent of the nation’s non-farm private workforce in 2004.
- America had 1.1 million Asian-owned firms, 1.2 million Black-owned firms, 1.6 million Hispanic-owned firms, 201,400 Native American-owned firms, and 28,900 Native Hawaiian and Pacific Islander-owned firms in 2002 (latest data). (Note: cannot be totaled, as business owners chose multiple ethnic and racial categories).
- Women-owned firms totaled 6.5 million and generated $940.8 billion in revenues in 2002 (latest data).
“Small businesses are America’s job-creating dynamo,” said Dr. Chad Moutray, Chief Economist for the Office of Advocacy. “Clearly policy-makers need to consider their impact on small business when they are making policy decisions.”
I say – here are some civil-servance in-tune with their small business feelings. I hope our PM Gordon Brown is taking notes. ST.