Florida Small Business Facts
- If everyone who files a tax return with business income is included, about 24 million small businesses exist. However, those whose principal occupation is owning or operating a small business number 23 million, and the other 1 million work in their business part-time. (NFIB Small Business Policy Guide, William J. Dennis Jr., Nov. 2000).
- Seven out of 10 small-business owners start their business with less than $20,000 (Wells Fargo/NFIB Series on Business Starts and Stops, William J. Dennis Jr., November 1998).
- Fourteen percent of Inc. Magazine's 500 fastest-growing companies in the United States started with less than $1,000 (Inc. Magazine, Oct. 2002)
- Most ideas for businesses originate from other work or hobbies; sometimes the ideas are related to educational courses, chance happenings or suggestions (New Business in America, William J. Dennis Jr., The NFIB Education Foundation).
- More than 60 percent of all businesses in the United States employ between zero and four people. Another 18 percent employ five to nine. And additional 11 percent employ 10 to 19. Thus, four of five employing businesses have fewer than 20 people working in them (NFIB Small Business Policy Guide, William J. Dennis Jr., November 2000).
- Small firms with fewer than 500 people employed 52 percent of the non-farm, private-sector work force in 1998 and were responsible for 51 percent of the private-sector business share of the nation's gross domestic product (The Facts About Small Business, U.S. SBA Office of Advocacy, August 2000).
- Small firms provide most initial on-the-job training and exposure to the labor force for new entrants. They are also more likely to employ younger workers, older workers, former welfare recipients and women (The Facts About Small Business, U.S. SBA Office of Advocacy, August 2000).
