Celebrating Small Business Saturday: SMB Contributions to the U.S. Economy
The article highlights SMB contributions to the U.S. economy: between 1993 and 2011, small businesses accounted for 64% of new jobs created; high-patenting small firms had 16 times more patents per employee than larger counterparts; locally owned businesses boost community economies more than national chains; and the share of women-, Latino-, African-American-, and Asian-owned businesses increased. It calls for celebrating SMBs on Small Business Saturday and every day.
Impact and considerations
The article provides data on SMB economic contributions, helping understand the core role of SMBs in the U.S. economy, valuable for businesses focused on the SMB market.
Key points
- Between 1993 and 2011, small businesses accounted for 64% of new U.S. jobs created.
- High-patenting small firms had 16 times more patents per employee than larger counterparts.
- Locally owned businesses boost community economies more than national chains.
- The share of Latino-owned businesses grew from 5.6% in 1996 to 14% in 2015.
- Women-owned businesses grew 114% between 1997 and 2007, compared to a national growth rate of 44% for all businesses.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 29 Jun 2022, 19:47
- Page published
- 14 Sept 2026, 00:22
- Last updated
- 29 Jun 2022, 19:47
- Original links
- SAP Concur Blog：Let’s Celebrate Small Business Saturday Every Day of the Year (opens in a new tab)Primary source · en · Published 29 Jun 2022, 19:47