Celebrate National Small Business Week!

Here at efelle we're celebrating National Small Business Week, as a small business ourselves who also serve small businesses around the country.

On Sunday and Monday the U.S. Small Administration kicked off National Small Business Week 2016 in the nation's capital by having SBA Administrator Maria Contreras-Sweet recognize and award the nation's top small businesses, entrepreneurs, small business advocates and champions.

In honor of National Small Business Week, we found the following facts to share about U.S. small business:
 

The Current State Of Small Business

• Approximately 70 percent of all U.S. small businesses are owned and operated by a single individual.
• Twenty-two million of the nation’s 28 million small businesses employ only one person.
• Fifty percent of established small businesses plan to hire in 2016, an 82 percent increase from 2015. That doesn’t account for any start-up companies in the coming year!
• Businesses close their doors for a number of reasons, but don’t lose hope. The long-term survival rate sits 80 percent higher than in 1977 – that’s nearly 40 years of longer-lasting operations.
• 2016 marks the fourth consecutive year of improved net profits for businesses with less than $5 million in annual revenue; current trends indicate 2017 may be the fifth.
• Small business owners feel the future looks bright: More than half see tomorrow as a chance for greater growth and better financial security. Three-quarters see better business prospects ahead.

And here's a fancy infographic from Brazzlebox: