Small businesses are the heart of Wisconsin’s economy

    Last updated on May 13th, 2019 at 02:42 pm

    Small businesses are the heart of Wisconsin’s economy, and the Office of Advocacy of the U.S. Small Business Administration recently sent them this Valentine with the reasons to love them.

    Ten Reasons To Love Wisconsin Small Business

    10. Small businesses make up 98 percent of all Wisconsin employers.

    9. Small businesses create more than 50 percent of the American non-farm private gross domestic product (GDP).

    8. Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms. 

    7. The 435,900 small businesses in Wisconsin are located in every community and neighborhood.

    6. Small businesses employ 53.9 percent of Wisconsin’s non-farm private sector workers.

    5. Home-based businesses account for 53 percent of all small businesses.

    4. Small businesses are 97 percent of America’s exporters and produce 26 percent of all export value.

    3. Wisconsin saw an estimated 13,656 new small firms with employees start-up in the last year measured.

    2. There are approximately 17,900 minority-owned businesses and 104,170 women-owned businesses in Wisconsin, and almost all of them are small businesses.

    1. The latest figures show that small business creates 65 percent or more of America’s net new jobs.
     
    The Office of Advocacy, the "small business watchdog" of the government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress and the President. It is the source for small business statistics presented in user-friendly formats and it funds research into small business issues.

    For more information, visit the Office of Advocacy Web site at www.sba.gov/advo.

    Ray Marchiori is the regional advocate for the U.S. Small Business Administration’s Region V Office in Chicago. He can be reached at (312) 353-8614.

     

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