Here are some small business numbers for 2024:

Here are some small business numbers for 2024:

Author

Jeff Standley
December 04, 2024

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Here are some small business numbers for 2024:

  • Number of small businesses

    There are approximately 33.2 million small businesses in the United States, which is 99.9% of all businesses in the country. 

  • Small business employment

    Small businesses employ 45.9% of the U.S. workforce, which is 61.6 million people. 

  • Small business revenue

    Small businesses contribute 43.5% of the country's total gross domestic product (GDP). 

  • Small business ownership

    Women own around 26% of all small businesses in the U.S., while just under half are owned by Generation X. 

  • Small business failure rate

    Around 18% of small businesses will fail within a year of opening, while half fail after five years. 

  • Small business concerns

    The second largest concern for small businesses is revenue, with 28% saying it is one of the biggest challenges. Other concerns include: 

    • Affordability of employee benefits or healthcare (16%) 

    • Rising interest rates (15%) 

    • Supply chain issues (14%) 

    • Employee retention (13%) 

  • Small business social media usage

    118 million businesses use Twitter, about 200 million use Facebook, 50 million use WhatsApp, and 35 million use Snapchat. 

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