While Grandma Maud’s has achieved a measure of success over the last eighteen years, we are considered an emerging, but yet, small business. In 2009,there were 27.5 million businesses in the United States, according to Office of Advocacy estimates. The latest available Census data show that there were 6.0 million firms with employees in 2007 and 21.4 million without employees in 2008. Small firms with fewer than 500 employees represent 99.9 percent of the total ( employers and nonemployers), as the most recent data show there were about 18,311 large businesses in 2007.
Small firms are important to the U.S. economy for the following reasons:
• Represent 99.7 percent of all employer firms.
• Employ half of all private sector employees.
• Pay 44 percent of total U.S. private payroll.
• Generated 65 percent of net new jobs over the past 17 years.
• Create more than half of the nonfarm private GDP.
• Hire 43 percent of high tech workers ( scientists, engineers, computer programmers, and others).
• Are 52 percent home-based and 2 percent franchises.
• Made up 97.5 percent of all identified exporters and produced 31 percent of export value in FY 2008.
• Produce 13 times more patents per employee than large patenting firms.
So when you support Grandma Maud’s by purchasing our Bean Meals, Premium Southern Seasoning and Pie Fixin’, not only are you enjoying our wonderful products, you are also helping to strengthen the engine that powers our nation. Do you personally know a small business owner?
Excellent read, I just passed this onto a friend who was doing a little research on that. And he just bought me lunch since I found it for him smile So let me rephrase that: Thanks for lunch!