In recent years, there has been an obvious shift in balance on the market, from large corporations to lean start-ups and small businesses. Bigger corporations may still hold the majority of the market due to their sheer volume, but smaller businesses are more flexible and much better at adapting to market changes. They are also much better at keeping the customers happy.
A recent infographic by the CSBgroup revealed many interesting statistics and facts about small businesses, particularly in the United States. In an infographic researched and designed by Elena from CSBgroup, you can see how small businesses now employ over 50% of the working population; that’s no less than 120 million individuals in the United States alone.
The rapid rise of tech start-ups and new business models has also contributed to the rise of small businesses. Thanks to technology-based solutions such as cloud computing and better communication, small and home businesses can remain ahead while staying lean, even in a market as competitive as today’s.
The infographic also reveals how more than 23 million small businesses are non-employer firms. These are businesses with only the owner as the sole employee. These non-employer firms generated close to $1 trillion in revenue in 2011; this is a number that continues to grow at a rapid pace.
You can learn more about how small businesses are shaping up to be the future of the economy from the full infographic, 25 Surprising Statistics About Small Businesses by CSBgroup.