why tennessee loves small business

Tennessee loves small business; the Office of Advocacy of the U.S. Small Business Administration is sending them this valentine with the reasons why.

This Valentine Is Being Sent To Tennessee Small Businesses Because:

10. Small businesses make up 97.2 percent of all Tennessee employers.

9.   Small businesses create more than 50 percent of America’s private non-farm gross domestic product (GDP).

8.   Small patenting firms produce 13 times more patents per employee than large patenting firms do.

7.   The 531,200 small businesses in Tennessee are located in every community and neighborhood.

6.   Small businesses employ 46.1 percent of Tennessee’s non-farm private sector workers.

5.   Home-based businesses account for 52 percent of all small businesses.

4.   Small businesses are 97 percent of America’s exporters and produce 28.6 percent of all export value.

3.   Tennessee saw an estimated 17,207 new small employers start up in the last year measured.

2.   There are approximately 42,000 minority-owned businesses and 117,900 women-owned businesses in Tennessee, and almost all of them are small businesses.

1.   The latest figures show that small businesses create 60 to 80 percent of America’s net new jobs.

The Office of Advocacy, the “small business watchdog” of the government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President.  It is the source for small business statistics presented in user-friendly formats and it funds research into small business issues. 

For more information, visit the Office of Advocacy website at www.sba.gov/advo.