This week, the Office of Advocacy released the new edition of the annual report, The Small Business Economy. You can find the entire report on the website, and you can read about in interesting places like Inc.com’s Wire, and reproduced below:
Report: Small Business Scores on Job Creation
Small businesses provide more jobs, IPOs are more profitable, and sales are picking up, according to the Small Business Administration.
Waiting for the job market to recover? Focus on small business growth, says a new report.
Small businesses outperformed large firms in job creation from 1992 to 2010, according to a report from the Small Business Administration’s Office of Advocacy, released Wednesday. About 75% of the time, when private-sector employment was rising, small businesses created more jobs than large firms, the SBA found.
The report, available online, is full of other news for small businesses, including positive information about increasing entrepreneur demographics, initial public offerings, and total lending for loans under $1 million.
The report shows that total IPOs were $36.3 billion in 2010, an increase from $18 billion in 2009. There was also a dramatic increase in Hispanic business owners, up 86 percent over the 2000-2010 period.
Businesses seeking loans should also be happy to hear that in June 2011 total lending for loans under $1 million was $606.9 billion.
And after a slowdown earlier in the decade, the SBA says that sales and many other macroeconomic indicators are once again picking up. —Caitlin Berens