Small Business Accounts for 17% of New Jobs
How many jobs does small businesses create? A new Treasury Department report suggests small business hiring accounts for almost one-fifth of new jobs.
According to the report small businesses (with revenue between $10,000 and $10 millions) create 17% of new jobs. This number is relatively high when you take into account that a mere 23% of small businesses have employees. The majority of companies that the Treasury Department considers small businesses are run by one person.
Meanwhile mid-size businesses, with revenue between $10 million and $1 billion, create more jobs than small or big businesses. Mid-size businesses account for 34% of new jobs.