Top Ten Reasons To Love Small Business – The Heart of Iowa’s Economy
10. Small businesses make up 97 percent of all Iowa employers.
9. Small businesses create more than 50 percent of the American nonfarm private gross domestic product (GDP).
8. Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms.
7. The 257,376 small businesses in Iowa are located in every community and neighborhood.
6. Small businesses employ 51.8 percent of Iowa’s non-farm private sector workers.
5. Home-based businesses account for 53 percent of all small businesses.
4. Small businesses are 97 percent of America’s exporters and produce 26 percent of all export value.
3. Iowa saw an estimated 10,763 new small firms with employees start-up in the last year measured.
2. There are approximately 8,000 minority-owned businesses and 66,000 women-owned businesses in Iowa, and almost all of them are small businesses.
1. The latest figures show that small business creates 65 percent or more of America’s net new jobs.