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Coleman’s Main Street Wednesday — A Few Need to Know Small Business Stats!

March 11, 2015

By Bob Coleman
Editor, Main Street Wednesday

I love stats!

Here are some great small business stats from SBA’s Office of Advocacy February report.

Percent of US demographic groups that are self employed:

Male — 11%
Veteran — 11%
Minority — 7%
Female — 7%

Breakdown of self-employed individuals in the US:

Male — 63%
Female — 37%
Minority — 26%
Veteran — 8%

Median income for individuals who are self-employed at their own incorporated business — $49,000

Median income for sole proprietors — $22,000

67% of small businesses that were founded in 2010 survived through 2012.

80% of small businesses founded in 2013 survived through 2014.

In the first quarter of 2014, 382,000 new small businesses opened their doors, while 364,000 closed their doors.

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