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The Top Five Stats Small Business Lending Professionals Must Know

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April 16, 2014

By Bob Coleman
Editor, Coleman Report

SBAOfficeofAdvocacylogoI confess, I didn’t know them all, but this month’s SBA’s Office of Advocacy monthly newsletter recaps the small business stats we should all know cold:

Here are my top five “need to know” small business stats:

1) Historically, small business creates 63 percent of new private-sector jobs
2) However, small business job creation has dropped to 60 percent since the end of the recession
3) Small business employs 50 percent of the workforce
4) About 10 to 12 percent of small businesses open each year and about 10 to 12 percent close
5) About half of all new small businesses survive five years or more and about one-third survive 10 years or more

Bonus Stat — Small businesses produce 16 times more patents per employee than large firms!

Get more cool stats from SBA’s Office of Advocacy here:

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