Small businesses hire more people in the United States than large corporations. Per the Huntington Post, small business hire 53% of the American workforce. Small business make up 99% of employing organizations. Statistics show that 95% of these businesses hire 10 or less employees. These numbers indicate they are small businesses and show that small businesses uphold the US economy by hiring the majority of its employing workforce.
Struggling through uneven playing fields in the U.S. economy, they still manage to grow large enough to create a workforce. Per a study by Deloitte, the average company spends $4,000 to hire an employee taking an average of 52 days. This can be a healthy financial investment for small businesses.
Business know-how posts that only 7% of all small businesses have revenues with more than $1M in annual sales. Only 3% of small businesses have annual sales between $500,000 and $1M. These statistics show the majority of small businesses in the United States have less than $500,000 in annual sales.
These statistics indicate there are a great number of American small businesses hiring the majority of the workforce with limited annual revenues. Support small businesses whenever you can. Entrepreneurs hire the majority of our workforce and with limited annual revenues and the cost of hiring employees creates a challenge for these companies to sustain a long term growth strategy.