We love stats about small businesses and these ones from the US Chamber of Commerce have made our day:
99.7% of America’s Businesses are “Small” Businesses
27% of Businesses Lost Employees Within the Past Year
90% of Customers are Influenced by Online Ratings and Reviews
Nearly 40% of Our Time Online is Spent on Mobile Devices
39% of SMBs See an ROI from Social Media
With Attacks Up 18% Last Year, SMBs are More Prone to Security Breaches in 2013
These are all interesting stats in very different ways. Firstly, only 0.3% of the businesses in the US are not small. That’s a miniscule minority and yet all of the focus of Government is on them. This seems counter-intuitive because every big business was small once!
Because nearly a third lost employees in the last year, it could mean that small businesses are shrinking or it could mean that there are more opportunities in the job market for people to move around.
It’s also surprising to see how effective online reviews are and this might explain the eBay feedback lawsuit we wrote about recently.