{"id":15232,"date":"2024-04-03T06:44:51","date_gmt":"2024-04-03T06:44:51","guid":{"rendered":"https:\/\/jobera.com\/?p=15232"},"modified":"2024-04-03T06:44:51","modified_gmt":"2024-04-03T06:44:51","slug":"small-business-statistics","status":"publish","type":"post","link":"https:\/\/jobera.com\/resources\/small-business-statistics\/","title":{"rendered":"50+ Small Business Statistics &amp; Trends [2026]"},"content":{"rendered":"\n<p><em>Did you know small businesses comprise <\/em><strong><em>99.9%<\/em><\/strong><em> of all US firms?<\/em><\/p>\n\n\n\n<p><strong>61.7 million<\/strong> Americans are employed in small businesses.<\/p>\n\n\n\n<p><em>How do small businesses fare in today&#8217;s economy?<\/em><\/p>\n\n\n\n<p>The<strong> average cost<\/strong> to start a business is between <strong>$ 250K and $500K<\/strong>.<\/p>\n\n\n\n<p>According to the <strong>US Bureau of Labor Statistics,<\/strong> about <strong>80%<\/strong> of small businesses survive their <strong>first year<\/strong>.<\/p>\n\n\n\n<p><em>Ready to join the entrepreneurial journey? <\/em>Begin with these essential stats.<\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><nav><ul><li class=\"\"><a href=\"#top-small-business-statistics-editors-pick\">Top Small Business Statistics: Editor\u2019s Pick<\/a><\/li><li class=\"\"><a href=\"#general-small-business-statistics\">General Small Business Statistics<\/a><\/li><li class=\"\"><a href=\"#small-business-statistics-by-demographics\">Small Business Statistics By Demographics<\/a><\/li><li class=\"\"><a href=\"#small-business-success-vs-failure-statistics\">Small Business Success Vs Failure Statistics<\/a><\/li><li class=\"\"><a href=\"#small-business-employment-and-salary-statistics\">Small Business Employment And Salary Statistics<\/a><\/li><li class=\"\"><a href=\"#small-business-finance-statistics\">Small Business Finance Statistics<\/a><\/li><li class=\"\"><a href=\"#small-business-marketing-statistics\">Small Business Marketing\u00a0 Statistics<\/a><\/li><li class=\"\"><a href=\"#challenges-faced-by-small-business\">Challenges Faced By Small Business<\/a><\/li><li class=\"\"><a href=\"#small-business-trends-and-predictions\">Small Business Trends And Predictions<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"top-small-business-statistics-editors-pick\">Top Small Business Statistics: Editor\u2019s Pick<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"427\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-cyber-attacks-1024x427.jpg\" alt=\"Small businesses are usual targets for 43% of cyber attacks\" class=\"wp-image-15241\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-cyber-attacks-1024x427.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-cyber-attacks-300x125.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-cyber-attacks-768x320.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-cyber-attacks.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>28% <\/strong>of small businesses <strong>do not<\/strong> have a <strong>website <\/strong>yet. <sup>[8]<\/sup><\/li>\n\n\n\n<li><strong>86%<\/strong> of small firm owners reported that<strong> technology<\/strong> helped them survive the pandemic. <sup>[10]<\/sup><\/li>\n\n\n\n<li><strong>74%<\/strong> of businesses are owned by <strong>males<\/strong>. <sup>[5]<\/sup><\/li>\n\n\n\n<li><strong>31%<\/strong> of US <strong>black-led <\/strong>small businesses reported being closed. <sup>[2]<\/sup><\/li>\n\n\n\n<li>The industry with the <strong>most job openings<\/strong> is the <strong>education and health services industry<\/strong>. <sup>[4]<\/sup><\/li>\n\n\n\n<li><strong>77%<\/strong> of <strong>small business owners<\/strong> expect their businesses to survive. <sup>[5]<\/sup><\/li>\n\n\n\n<li><strong>Facebook (66%) and YouTube (42%)<\/strong> are the most popular social networking platforms among small businesses. <sup>[2]<\/sup><\/li>\n\n\n\n<li><strong>25% <\/strong>of companies use<strong> AI t<\/strong>o address<strong> labor shortages<\/strong>. <sup>[7]<\/sup><\/li>\n\n\n\n<li>Small businesses created <strong>17.3 million job<\/strong>s in the last 26 years. <sup>[1]<\/sup><\/li>\n\n\n\n<li><strong>&nbsp;24%<\/strong> of small businesses said they are going to<strong> increase staff<\/strong> in 2024. <sup>[5]<\/sup><\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"general-small-business-statistics\">General Small Business Statistics<\/h2>\n\n\n\n<p>Small businesses comprise <strong>99.9%<\/strong> of all US firms. <sup>[1]<\/sup><\/p>\n\n\n\n<p>Small businesses created <strong>17.3 million job<\/strong>s in the last 26 years. <sup>[1]<\/sup><\/p>\n\n\n\n<p>Even though 9 out of 10 employees conduct online research before buying, <strong>28% <\/strong>of small businesses <strong>do not<\/strong> have a <strong>website <\/strong>yet. <sup>[8]<\/sup><\/p>\n\n\n\n<p>Small businesses are usual targets for <strong>43% of cyber attacks<\/strong>. <sup>[9]<\/sup><\/p>\n\n\n\n<p>It is alarming to note that only<strong> 14% <\/strong>of small businesses are ready to <strong>defend against <\/strong>such attacks. <sup>[9]<\/sup><\/p>\n\n\n\n<p>Covid has affected all of us, and small businesses are not an exception. <strong>21.6%<\/strong> of them suffered huge <strong>negative <\/strong>impacts of Covid. <sup>[10]<\/sup><\/p>\n\n\n\n<p><strong>86%<\/strong> of small firm owners reported that<strong> technology<\/strong> helped them survive the pandemic. <sup>[10]<\/sup><\/p>\n\n\n\n<p><strong>Retail and eCommerce<\/strong> are top small business industries. <sup>[5]<\/sup><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/top-small-business-industries-1024x683.jpg\" alt=\"Top small business industries\" class=\"wp-image-15243\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/top-small-business-industries-1024x683.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/top-small-business-industries-300x200.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/top-small-business-industries-768x512.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/top-small-business-industries.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>Source: <a href=\"https:\/\/www.guidantfinancial.com\/small-business-trends\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Guidant Financial<\/a><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"small-business-statistics-by-demographics\">Small Business Statistics By Demographics<\/h2>\n\n\n\n<p><em>Who is an average small business owner?<\/em><\/p>\n\n\n\n<p><strong>Gen X <\/strong>owns <strong>47%<\/strong> of small business. <sup>[5]<\/sup><\/p>\n\n\n\n<p>Next in line are<strong> baby boomers<\/strong> with <strong>37%<\/strong>. <sup>[5]<\/sup><\/p>\n\n\n\n<p>Then comes <strong>millennials, they own 16% <\/strong>of business in the US. <sup>[5]<\/sup><\/p>\n\n\n\n<p><strong>74%<\/strong> of businesses are owned by <strong>males<\/strong>. <sup>[5]<\/sup><\/p>\n\n\n\n<p><strong>Women-led <\/strong>small businesses reported<strong> higher proportions <\/strong>of business closures at <strong>23%<\/strong>, versus <strong>17%<\/strong> of <strong>men-led <\/strong>small businesses. <sup>[2].<\/sup><\/p>\n\n\n\n<p><strong>44%<\/strong> of small business owners are graduates with a <strong>bachelor&#8217;s degree<\/strong>. <sup>[5]<\/sup><\/p>\n\n\n\n<p><strong>US minority-led <\/strong>small businesses were <strong>8%<\/strong> more likely to report closure than other small businesses. <sup>[2]<\/sup><\/p>\n\n\n\n<p><strong>31%<\/strong> of US <strong>black-led <\/strong>small businesses reported being closed. <sup>[2]<\/sup><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-demographics-1024x768.jpg\" alt=\"Small business owners\u2019 statistics\" class=\"wp-image-15244\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-demographics-1024x768.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-demographics-300x225.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-demographics-768x576.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-demographics.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>Source: <a href=\"https:\/\/www.guidantfinancial.com\/small-business-trends\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Guidant Financial<\/a><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"small-business-success-vs-failure-statistics\">Small Business Success Vs Failure Statistics<\/h2>\n\n\n\n<p>According to the <strong>US Bureau of Labor Statistics,<\/strong> about <strong>80%<\/strong> of small businesses survive their <strong>first year<\/strong>. <sup>[7]<\/sup><\/p>\n\n\n\n<p><strong>Over half<\/strong> of all small businesses fail in the <strong>first five years. <\/strong><strong><sup>[7]<\/sup><\/strong><\/p>\n\n\n\n<p><strong>Only 30%<\/strong> go on to survive their <strong>10th year<\/strong> in business.<strong> <\/strong><strong><sup>[7]<\/sup><\/strong><\/p>\n\n\n\n<p>Here we have curated a list of failure rates in a decade.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Years in business<\/strong><\/th><th><strong>Failure rate<\/strong><\/th><\/tr><\/thead><tbody><tr><td>1<\/td><td>20%<\/td><\/tr><tr><td>2<\/td><td>30%<\/td><\/tr><tr><td>5<\/td><td>50%<\/td><\/tr><tr><td>10<\/td><td>70%<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Source: <a href=\"https:\/\/www.fundera.com\/blog\/what-percentage-of-small-businesses-fail\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Fundera<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p><em>Are small business owners happy?<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/happiness-level-1024x683.jpg\" alt=\"Small business owners\u2019 happiness index\" class=\"wp-image-15245\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/happiness-level-1024x683.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/happiness-level-300x200.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/happiness-level-768x512.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/happiness-level.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>Source: <a href=\"https:\/\/www.guidantfinancial.com\/small-business-trends\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Guidant Financial<\/a><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"small-business-employment-and-salary-statistics\">Small Business Employment And Salary Statistics<\/h2>\n\n\n\n<p><em>Are small businesses generating employment?<\/em><\/p>\n\n\n\n<p><em>Statistics suggests, yes!<\/em><\/p>\n\n\n\n<p>Small businesses have added over <strong>12.9 million jobs<\/strong> in the last 25 years. <sup>[4]<\/sup><\/p>\n\n\n\n<p>Small businesses led by <strong>US minorities <\/strong>were more likely to report increasing their <strong>number of workers (20%)<\/strong> than others (16%). <sup>[2]<\/sup>&nbsp;<\/p>\n\n\n\n<p>The industry with the <strong>most job openings<\/strong> is the <strong>education and health services industry<\/strong>. <sup>[4]<\/sup><\/p>\n\n\n\n<p>The average small business owner\u2019s salary is <strong>$69,579 in 2023<\/strong>. <sup>[6]<\/sup><\/p>\n\n\n\n<p><strong>61.7 million<\/strong> Americans are employed in small businesses. <sup>[6]<\/sup>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"small-business-finance-statistics\">Small Business Finance Statistics<\/h2>\n\n\n\n<p><em>Wondering what is the cost to start a business?<\/em><\/p>\n\n\n\n<p>The<strong> average cost<\/strong> to start a business is between <strong>$ 250K and $500K<\/strong>. <sup>[5]<\/sup><\/p>\n\n\n\n<p>And about<strong> half of business <\/strong>owners use<strong> $401K<\/strong> to start their ventures. <sup>[5]<\/sup><\/p>\n\n\n\n<p><strong>Only 3.7%<\/strong> of small business owners started their business with<strong> less than<\/strong> <strong>$50K<\/strong>. <sup>[5]<\/sup><\/p>\n\n\n\n<p>It is to be noted that <strong>12.3%<\/strong> of small business owners spent <strong>more than $1MM<\/strong> to start the business.<\/p>\n\n\n\n<p>Here we have reviewed the average cost to start a small business in the US.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Cost<\/strong><\/th><th><strong>Percentage<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Less than $50k<\/td><td>3.7%<\/td><\/tr><tr><td>More than $1MM<\/td><td>12.3%<\/td><\/tr><tr><td>$500k-%1MM<\/td><td>16.3%<\/td><\/tr><tr><td>$250k-$500k<\/td><td>27.3%<\/td><\/tr><tr><td>$175k-$250k<\/td><td>14.2%<\/td><\/tr><tr><td>$50k-$175k<\/td><td>26.2%<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Source: <a href=\"https:\/\/www.guidantfinancial.com\/small-business-trends\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Guidant Financial<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"question-do-you-expect-your-business-to-survive-in-todays-economy\">Question: Do you expect your business to survive in today\u2019s economy?<\/h3>\n\n\n\n<p><strong>77%<\/strong> of <strong>small business owners<\/strong> expect their businesses to survive. <sup>[5]<\/sup><\/p>\n\n\n\n<p><strong>5%<\/strong> do not expect to survive today\u2019s economy while <strong>18% are not sure<\/strong>. <sup>[5]<\/sup><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-economy-stats-1024x768.jpg\" alt=\"Small business survival statistics\" class=\"wp-image-15246\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-economy-stats-1024x768.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-economy-stats-300x225.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-economy-stats-768x576.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-economy-stats.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>Source: <a href=\"https:\/\/www.guidantfinancial.com\/small-business-trends\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Guidant Financial<\/a><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"small-business-marketing-statistics\">Small Business Marketing&nbsp; Statistics<\/h2>\n\n\n\n<p>Social media has increased the customer base for small businesses significantly after Covid.<\/p>\n\n\n\n<p><strong>Facebook (66%) and YouTube (42%)<\/strong> are the most popular social networking platforms among small businesses. <sup>[2]<\/sup><\/p>\n\n\n\n<p><strong>94%<\/strong> of brands post <strong>daily <\/strong>on social media platforms.<sup>[9]<\/sup><\/p>\n\n\n\n<p><strong>79%<\/strong> of brands post <strong>weekly <\/strong>on social media. <sup>[9]<\/sup><\/p>\n\n\n\n<p><strong>Only 6% <\/strong>of brands post <strong>less frequently than a month<\/strong>. <sup>[9]<\/sup><\/p>\n\n\n\n<p>But it is interesting to note that, <strong>37%<\/strong> of social media users prefer brands that engage with their <strong>audiences directly<\/strong>, rather than posting a lot of content pieces. <sup>[9]<\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"challenges-faced-by-small-business\">Challenges Faced By Small Business<\/h2>\n\n\n\n<p><strong>Four in five<\/strong> respondents reported that they are concerned about <strong>small businesses<\/strong> in the US. <sup>[3]<\/sup><\/p>\n\n\n\n<p><em>Why?<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>According to Statista, US small businesses face <strong>inflation and labor quality<\/strong> issues. <sup>[1]<\/sup><\/li>\n\n\n\n<li><strong>53%<\/strong> of business owners reported that their business has experienced <strong>operational issues<\/strong> due to <strong>supply chain disruptions. <\/strong><strong><sup>[1]<\/sup><\/strong><\/li>\n\n\n\n<li><strong>5%<\/strong> of small businesses went through <strong>poor sales<\/strong> in <strong>June 2023<\/strong>. The percentage has increased by <strong>1% since 2022<\/strong>. <sup>[1]<\/sup><\/li>\n\n\n\n<li><strong>Government regulations<\/strong> are a continuous challenge for small businesses<strong> (8%)<\/strong>. <sup>[1]<\/sup><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-challenges-1024x683.jpg\" alt=\"Small business challenges\" class=\"wp-image-15247\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-challenges-1024x683.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-challenges-300x200.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-challenges-768x512.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/small-business-challenges.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>Source: <a href=\"https:\/\/www.statista.com\/statistics\/220371\/single-most-important-problem-for-small-businesses-in-the-us\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Statista<\/a>&nbsp;<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"small-business-trends-and-predictions\">Small Business Trends And Predictions<\/h2>\n\n\n\n<p>Here we have curated a list of popular answered by founders when asked \u2018What motivates you to go into businesses?\u2019<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"900\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/founder-motivators.jpg\" alt=\"Top motivators for small business founders\" class=\"wp-image-15248\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/founder-motivators.jpg 800w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/founder-motivators-267x300.jpg 267w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/founder-motivators-768x864.jpg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<p><em>Source: <a href=\"https:\/\/www.guidantfinancial.com\/small-business-trends\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Guidant Financial<\/a><\/em><\/p>\n\n\n\n<p>Small businesses are happily welcoming AI.<strong> 25% <\/strong>of companies use<strong> AI t<\/strong>o address<strong> labor shortages<\/strong>. <sup>[7]<\/sup><\/p>\n\n\n\n<p><strong>33%<\/strong> use technology for automating <strong>IT processes<\/strong>, including data <strong>management and cyber security<\/strong>. <sup>[7]<\/sup><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-are-your-plans-for-2024\">What are your plans for 2024?<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>When asked about plans for 2024,<strong> 24%<\/strong> of small businesses said they are going to<strong> increase staff<\/strong>. <sup>[5]<\/sup><\/li>\n\n\n\n<li><strong>18%<\/strong> are planning to <strong>invest in digital marketing<\/strong>.<\/li>\n\n\n\n<li><strong>17%<\/strong> are planning to <strong>expand or remodel in 2024<\/strong>.&nbsp;<\/li>\n\n\n\n<li><strong>10%<\/strong> are going to<strong> invest in traditional marketing<\/strong>.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-columns has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"background-color:#fff9ed\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>If you found this article interesting, you might enjoy these too:<\/strong><\/p>\n\n\n<p>[related_posts_by_tax taxonomies=&#8221;category,post_tag&#8221; posts_per_page=&#8221;5&#8243; orderby=&#8221;post_modified&#8221; title=&#8221;&#8221;]<\/p>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"fa-qs\">FAQs&nbsp;<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"is-it-necessary-for-small-businesses-to-have-a-website\">Is it necessary for small businesses to have a website?<\/h3>\n\n\n\n<p>The absence of a website limits online visibility of businesses and restricts their ability to reach potential customers who rely on online research before making purchasing decisions. Approximately 28% of small businesses currently do not have a website.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-social-media-is-helping-small-businesses\">How social media is helping small businesses?<\/h3>\n\n\n\n<p>Small businesses are actively engaging with their audience on social media platforms through personalized interactions, such as responding to comments, messages, and user-generated content. This engagement fosters stronger brand loyalty, increases customer satisfaction, and facilitates word-of-mouth marketing, ultimately leading to higher customer acquisition and retention rates.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"is-ai-and-automation-harmful-to-small-businesses\">Is AI and automation harmful to small businesses?<\/h3>\n\n\n\n<p>No, small businesses are not being harmed by AI and automation. Actually, they are using it for their benefit. Like integrating AI and automation to streamline repetitive tasks, enhance data analysis, and improve decision-making processes. They anticipate benefits such as increased productivity, reduced operational costs, and enhanced scalability, allowing them to focus on strategic initiatives and innovation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"why-do-small-businesses-invest-in-digital-marketing-and-how-do-they-measure-success\">Why do small businesses invest in digital marketing, and how do they measure success?<\/h3>\n\n\n\n<p>Small businesses invest in digital marketing to reach more customers. They track website traffic, conversions, and engagement to see if it&#8217;s working.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-have-supply-chain-issues-impacted-small-businesses\">How have supply chain issues impacted small businesses?<\/h3>\n\n\n\n<p>Supply chain problems have caused operational issues for 53% of small businesses. They&#8217;re looking for new suppliers and using technology to manage inventory better.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"conclusion\">Conclusion&nbsp;<\/h2>\n\n\n\n<p>From employment statistics to challenges and trends, the <strong>landscape of small businesses<\/strong> is ever-evolving. Despite facing hurdles such as cyber attacks, supply chain disruptions, and regulatory challenges, small business owners remain resilient.&nbsp;<\/p>\n\n\n\n<p>The pandemic has showcased both the vulnerabilities and the <strong>adaptability of small businesses<\/strong>. With technology playing an increasingly vital role and entrepreneurs embracing innovations like AI, the future of small businesses holds promise.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sources\">Sources<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Statista. <a href=\"https:\/\/www.statista.com\/statistics\/220371\/single-most-important-problem-for-small-businesses-in-the-us\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The most important problems for small businesses in 2024<\/a><\/li>\n\n\n\n<li>CNBC. <a href=\"https:\/\/www.cnbc.com\/2021\/04\/09\/small-business-closures-tick-back-toward-covid-pandemic-highs.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">US Small Businesses Closures Are Ticking Back Toward COVID Pandemic Highs<\/a><\/li>\n\n\n\n<li>Verizon. <a href=\"https:\/\/www.verizon.com\/about\/sites\/default\/files\/Verizon-Business-Third-Annual-State-of-Small-Business-Report-2022.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Annual small business survey report<\/a><\/li>\n\n\n\n<li>Forbes. <a href=\"https:\/\/www.forbes.com\/advisor\/business\/small-business-statistics\/#sources_section\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Top small business statistics of 2024<\/a><\/li>\n\n\n\n<li>Guidant Financial. <a href=\"https:\/\/www.guidantfinancial.com\/small-business-trends\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">2024 small business trends<\/a><\/li>\n\n\n\n<li>Payscale. <a href=\"https:\/\/www.payscale.com\/research\/US\/Job=Small_Business_Owner\/Salary\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Small business owner salary 2024<\/a><\/li>\n\n\n\n<li>Hostinger. <a href=\"https:\/\/www.hostinger.in\/tutorials\/ai-statistics\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">AI statistics and trends<\/a><\/li>\n\n\n\n<li>Top Design. <a href=\"https:\/\/topdesignfirms.com\/web-design\/blog\/online-presence-management\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Online presence management tips for small businesses<\/a><\/li>\n\n\n\n<li>Hostinger. <a href=\"https:\/\/www.hostinger.in\/tutorials\/small-business-statistics\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Small business statistics<\/a><\/li>\n\n\n\n<li>The Washington Post. <a href=\"https:\/\/www.washingtonpost.com\/business\/2020\/05\/12\/small-business-used-define-americas-economy-pandemic-could-end-that-forever\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Small Business Used To Define America\u2019s Economy. The Pandemic Could Change That Forever.<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Did you know small businesses comprise 99.9% of all US firms? 61.7 million Americans are employed in small businesses. How\u2026<\/p>\n","protected":false},"author":6,"featured_media":15250,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[184,114],"class_list":["post-15232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-statistics","tag-entrepreneurs","tag-small-business"],"_links":{"self":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts\/15232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/comments?post=15232"}],"version-history":[{"count":0,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts\/15232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/media\/15250"}],"wp:attachment":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/media?parent=15232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/categories?post=15232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/tags?post=15232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}