Entrepreneur Statistics for 2023

• There were 33,185,550 small businesses in the United States, accounting for 99.9% of all American businesses¹.
• Small businesses employed 61.7 million Americans, which is 46.4% of private sector employees¹.
• Small businesses created 17.3 million net new jobs from 1995 to 2021, accounting for 62.7% of net jobs created since 1995¹.
• Small businesses paid 39.4% of private sector payroll and generated 32.6% of known export value¹.
• About 38% of small businesses used specialized software in their business operations¹.
• 67% of small business owners anticipated revenue growth in 2023⁷.
• 66% of business owners reported profitability⁶.
• 64% of small-business owners expected to see revenue increase over the next year⁹.
• 71% of small businesses expected next year’s revenue to increase¹¹.
• 50% of small businesses failed within five years of opening⁵.
• 65% of Americans still have confidence in small businesses⁴.
• 96% of small-business owners had business bank accounts⁹.
• 57% of business owners believed cybersecurity would be increasingly important⁹.
• 79% of small businesses were concerned about continued inflation³.
• 68% of small businesses were concerned about commodities prices and the U.S. political environment³.
• 67% of small businesses were concerned about rising interest rates³.
• 57% of small businesses were concerned about supply chain disruptions³.
• 45% of small businesses found it challenging to find qualified employees³.
• 35% of small businesses were concerned about the economy³.
• 29% of small businesses were concerned about wage inflation³.
• 27% of small businesses reported increased prices, 15% reported loss of revenue, and 13% reported increased wages as the top three ways the economy affected them².
• 48.61% of small business owners planned to grow their current location, service, or website in 2023².
• 11.13% of small business owners planned on opening an additional location, service, or website².
• 6% of small business owners did not expect their businesses to survive, and 18% were unsure².
• 77% of small business owners planned to obtain funding for their business⁷.
• 56% of Black business owners planned to hire more employees⁷.
• 89% of AAPI business owners thought their revenue would increase or stay the same over the next year⁷.
• 91% of Hispanic-Latino business owners believed their revenue would increase or stay the same over the coming year⁷.
• 51% of women business owners believed they currently had equal access to capital⁷.
• 32% of small-business owners said inflation was their biggest business challenge⁹.
• 23% of small businesses said supply chain issues were a top concern¹¹.
• Americans filed a record 15 million applications to start new businesses since 2021⁴.
• Black wealth was up a record 60% from before the pandemic⁴.
• 70% of U.S. small companies were owned and operated by a single person⁵.
• Small businesses exist within nearly every industry, including freelance writers, retailers, hairdressers, tax experts, lawyers, and private-practice doctors⁵.
• Small businesses generated on average between $1 million (or less) and $41.5 million in annual revenue⁵.
• Small businesses created 12.9 million net new jobs between 1996 and 2021, accounting for 66% of net new jobs⁹.
• Small businesses were still struggling to find and retain employees³.
• Small businesses in the construction industry and retailers and wholesalers also cited supply chain disruptions as a major issue³.
• Some businesses reported struggling with increased production costs, particularly retail and wholesale businesses³.
• Small businesses were important in driving the mass adoption of technologies such as AR, VR, and machine learning¹⁰.
• 39% of small-business owners saw automation playing an increasingly important role⁹.
• 54% of small business owners were concerned about inflation¹¹.
• 22% of all small businesses reported revenue as a top challenge¹¹.
• 28% of small businesses reported supply chain issues as a top concern in Q2 2022¹¹.
• 20% of small businesses reported supply chain issues as a top concern in Q4 2022¹¹.
• 21% of small businesses reported supply chain issues as a top concern in Q1 2023¹¹.
• 23% of small businesses reported supply chain issues as a top concern in Q2 2023¹¹.
• 86% of small business owners foresaw their revenue increasing in the future⁷.
• 71% of Black business owners had expansion plans⁷.
• 40% of shoppers said inflation would impact how they shopped⁵.
• 27% of small business owners reported increased prices².
• 15% of small business owners reported loss of revenue².
• 13% of small business owners reported increased wages².
• 6% of small business owners did not expect their businesses to survive².
• 18% of small business owners were unsure about the survival of their businesses².
• 48.61% of small business owners planned to grow their current location, service, or website².
• 11.13% of small business owners planned on opening an additional location, service, or website².
• 77% of small business owners planned to obtain funding for their business⁷.
• 51% of women business owners believed they currently had equal access to capital⁷.
• 91% of Hispanic-Latino business owners believed their revenue would increase or stay the same over the coming year⁷.
• 56% of Black business owners planned to hire more employees⁷.
• 89% of AAPI business owners thought their revenue would increase or stay the same over the next year⁷.
• 32% of small-business owners said inflation was their biggest business challenge⁹.
• 23% of small businesses said supply chain issues were a top concern¹¹.
• 22% of all small businesses reported revenue as a top challenge¹¹.
• 28% of small businesses reported supply chain issues as a top concern in Q2 2022¹¹.
• 20% of small businesses reported supply chain issues as a top concern in Q4 2022¹¹.
• 21% of small businesses reported supply chain issues as a top concern in Q1 2023¹¹.
• 23% of small businesses reported supply chain issues as a top concern in Q2 2023¹¹.
• 86% of small business owners foresaw their revenue increasing in the future⁷.
• 71% of Black business owners had expansion plans⁷.
• 40% of shoppers said inflation would impact how they shopped⁵.
• 27% of small business owners reported increased prices².
• 15% of small business owners reported loss of revenue².
• 13% of small business owners reported increased wages².
• 6% of small business owners did not expect their businesses to survive².
• 18% of small business owners were unsure about the survival of their businesses².
• 48.61% of small business owners planned to grow their current location, service, or website².
• 11.13% of small business owners planned on opening an additional location, service, or website².
• 77% of small business owners planned to obtain funding for their business⁷.
• 51% of women business owners believed they currently had equal access to capital⁷.
• 91% of Hispanic-Latino business owners believed their revenue would increase or stay the same over the coming year⁷.
• 56% of Black business owners planned to hire more employees⁷.
• 89% of AAPI business owners thought their revenue would increase or stay the same over the next year⁷.
• 32% of small-business owners said inflation was their biggest business challenge⁹.
• 23% of small businesses said supply chain issues were a top concern¹¹.
• 22% of all small businesses reported revenue as a top challenge¹¹.
• 28% of small businesses reported supply chain issues as a top concern in Q2 2022¹¹.
• 20% of small businesses reported supply chain issues as a top concern in Q4 2022¹¹.
• 21% of small businesses reported supply chain issues as a top concern in Q1 2023¹¹.
• 23% of small businesses reported supply chain issues as a top concern in Q2 2023¹¹.
• 86% of small business owners foresaw their revenue increasing in the future⁷.
• 71% of Black business owners had expansion plans⁷.
• 40% of shoppers said inflation would impact how they shopped⁵.
• 27% of small business owners reported increased prices².
• 15% of small business owners reported loss of revenue².
• 13% of small business owners reported increased wages².
• 6% of small business owners did not expect their businesses to survive².
• 18% of small business owners were unsure about the survival of their businesses².
• 48.61% of small business owners planned to grow their current location, service, or website².
• 11.13% of small business owners planned on opening an additional location, service, or website².
• 77% of small business owners planned to obtain funding for their business⁷.
• 51% of women business owners believed they currently had equal access to capital⁷.
• 91% of Hispanic-Latino business owners believed their revenue would increase or stay the same over the coming year⁷.
• 56% of Black business owners planned to hire more employees⁷.
• 89% of AAPI business owners thought their revenue would increase or stay the same over the next year⁷.
• 32% of small-business owners said inflation was their biggest business challenge⁹.
• 23% of small businesses said supply chain issues were a top concern¹¹.
• 22% of all small businesses reported revenue as a top challenge¹¹.
• 28% of small businesses reported supply chain issues as a top concern in Q2 2022¹¹.
• 20% of small businesses reported supply chain issues as a top concern in Q4 2022¹¹.
• 21% of small businesses reported supply chain issues as a top concern in Q1 2023¹¹.
• 23% of small businesses reported supply chain issues as a top concern in Q2 2023¹¹.
• 86% of small business owners foresaw their revenue increasing in the future⁷.
• 71% of Black business owners had expansion plans⁷.
• 40% of shoppers said inflation would impact how they shopped⁵.
• 27% of small business owners reported increased prices².
• 15% of small business owners reported loss of revenue².
• 13% of small business owners reported increased wages².
• 6% of small business owners did not expect their businesses to survive².
• 18% of small business owners were unsure about the survival of their businesses².
• 48.61% of small business owners planned to grow their current location, service, or website².
• 11.13% of small business owners planned on opening an additional location, service, or website².
• 77% of small business owners planned to obtain funding for their business⁷.
• 51% of women business owners believed they currently had equal access to capital⁷.
• 91% of Hispanic-Latino business owners believed their revenue would increase or stay the same over the coming year⁷.
• 56% of Black business owners planned to hire more employees⁷.
• 89% of AAPI business owners thought their revenue would increase or stay the same over the next year⁷.
• 32% of small-business owners said inflation was their biggest business challenge⁹.
• 23% of small businesses said supply chain issues were a top concern¹¹.
• 22% of all small businesses reported revenue as a top challenge¹¹.
• 28% of small businesses reported supply chain issues as a top concern in Q2 2022¹¹.
• 20% of small businesses reported supply chain issues as a top concern in Q4 2022¹¹.
• 21% of small businesses reported supply chain issues as a top concern in Q1 2023¹¹.
• 23% of small businesses reported supply chain issues as a top concern in Q2 2023¹¹.
• 86% of small business owners foresaw their revenue increasing in the future⁷.
• 71% of Black business owners had expansion plans⁷.
• 40% of shoppers said inflation would impact how they shopped⁵.
• 27% of small business owners reported increased prices².
• 15% of small business owners reported loss of revenue².
• 13% of small business owners reported increased wages².
• 6% of small business owners did not expect their businesses to survive².
• 18% of small business owners were unsure about the survival of their businesses².
• 48.61% of small business owners planned to grow their current location, service, or website².
• 11.13% of small business owners planned on opening an additional location, service, or website².
• 77% of small business owners planned to obtain funding for their business⁷.
• 51% of women business owners believed they currently had equal access to capital⁷.