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Here are some interesting things about small business (provided by Fundera):
Q: Do small businesses really create that many jobs? A: Yes!
To get more granular about it, job creation mainly comes from new small businesses. New businesses account for nearly all net new job creation, and almost 20% of gross job creation.4 Comparatively, small businesses that are 5 years or older don’t have a significant impact on job growth
Q: What percentage of small businesses are owned by minorities? A: Here are the percentages of small business owners by race, as of the most recent Kauffman Index:
For context, here’s how those numbers have changed since 1996:
Q: What about the gender breakdown? A: Great question! As of 2015, the percentages of small business owners by gender as of 2015 are:
The percentage of female small business owners has increased by 1.48% since 1996—so there’s a lot more room to grow.
Q: Which is the most entrepreneurial generation? A: Despite all the buzz, millennials (those aged 20-38 at the time of this survey) actually aren’t the most entrepreneurial generation—at least not when it comes to small business.
Here’s what the age breakdown of small business-ownership actually looks like, according to our trusty Kauffman Index: