30 - that is independently owned and operate and is not...

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Chapter 5 – Options for Organizing Small and Large Businesses Facebook- Have you ever wanted to be your own boss? Small Businesses Facts 90% of firms with employees have fewer than 20 people on staff o 98% have fewer than 100 employees. More than 20 million people in the United States earn business income without employees. o Almost ½ the sales in the United States are made by small business. Small businesses generate 60%-80% of new jobs over the last decade. Launching pad for entrepreneurs and prevalence of minorities. What is Small Business? The Small Business Administration defines a small business to be a firm
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Unformatted text preview: that is independently owned and operate and is not dominant in the field Major Industries Dominated by Small Business • *Construction 90% • *Agricultural Services 88% • *Services 56% • * Fewer than 500 employees Contributions of Small Business • Creating New Jobs • Creating New Industries • Innovation Small Business Failure • 1/3 business close permanently within 2 years Increasing the Likelihood of Small Business Success • Creating a Business Plan • Small Business Administration...
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