In Business / March 2006
Lovin’ Small Business
Small businesses are the heart of West Virginia’s economy, and the Office of Advocacy of the U.S. Small Business Administration has provided ten reasons to love them.
Small businesses make up 96.7 percent of all West Virginia employers.
Small businesses create more than 50 percent of the American nonfarm private gross domestic product (GDP).
Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms.
The 119,806 small businesses in West Virginia are located in every community and neighborhood.
Small businesses employ 53.9 percent of West Virginia’s non-farm private sector workers.
Home-based businesses account for 53 percent of all small businesses.
Small businesses are 97 percent of America’s exporters and produce 26 percent of all export value.
West Virginia saw an estimated 3,937 new small firms with employees start-up in the last year measured.
There are approximately 3,800 minority-owned businesses and 31,302 women-owned businesses in West Virginia, and almost all of them are small businesses.
The latest figures show that small business creates 65 percent or more of America’s net new jobs.
The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The presidentially appointed Chief Counsel for Advocacy advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers.
For more information, visit www.sba.gov/advo, or call (202) 205-6533.
Copyright © 2005-2006 A Woman's View. All rights reserved.
Femme Fair 2006
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