Survey data was collected from 18,000 respondents in all 50 states and Washington, D.C., representing small businesses of varied sizes in a broad coverage of industries. SCORE has collected this data annually for eight years through its annual Client Engagement survey, conducted by PricewaterhouseCoopers. However, this is the first time that selected statistics (showcasing small business owners’ experiences and sentiments in fiscal year 2016) will be shared with the general public.
Key findings include:
Start-Ups: Jobs Created by Non-Employer Firms, Part-Time Workers and Independent Contractors
- 42% of start-ups reported hiring one or more part-time employees and independent contractors, for an average of 3.2 jobs.
- When part-time employees and independent contractors were included in calculations, microbusinesses (0-4 employees) contributed the most jobs and hired more new workers, in comparison to small businesses with more than five employees.
- 65% of micro-businesses reported expecting to be struggling or stagnant in 2017, while 54% of other businesses (>4 employees) anticipated growth in the same time span.
- Only 14% of start-ups, and 15% of existing businesses, obtained financing.
- Entrepreneurs at all stages of the business life cycle ranked “marketing and sales (finding new customers)” as most important to their respective business’ success, out of eight possible answers.
- Small business owners in all stages of the business life cycle looked to other business owners and peers as their primary sources of information, at double the rate of the second most popular source of information (Internet search).
For more information, download “The Megaphone of Main Street: Report on America’s Small Businesses,” and its accompanying infographic.
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE’s 10,000 volunteer business experts provide 350,000+ free small business mentoring sessions, workshops and educational services to clients in 300 chapters nationwide. In 2016, SCORE volunteers provided 2.2+ million hours to help create more than 55,000 small businesses and 130,000 jobs.
For more information about starting or operating a small business, visit SCORE at www.score.org. Follow @SCOREMentors on Facebook and Twitter for the latest small business news and updates.