Welcome to Very Small Businesses

Welcome to our Very Small Businesses information series. Men and women from all walks of life, all ages, and all countries have created innovative, successful businesses. This series of guides on very small businesses and entrepreneurship has been developed just for you, a person who is thinking about starting a small business or who has made the commitment to start one. It is targeted to people who are considering starting a small business as well as small business owners who want to learn more about successful strategies and skills. We have worked with a team of small business owners like you to develop, write, and produce this series.

These guides contain a wealth of information on starting and running your business and also include activities, worksheets, self-assessments, glossaries, and valuable additional resources for you to consult along the way. Entrepreneurship is the process of organizing, managing, and assuming the risks and rewards of a business or enterprise. Most people see entrepreneurship as the opportunity to pursue the dream of working for themselves. For many, it's not always about the money, but rather, about the passion and the challenge. Are you ready?

 
Starting your own business presents many challenges as well as the potential for many rewards, and all of us know how important it is to have clear, concise information to make smart business decisions. Our goal is to share experiences about the dynamic, exciting small business community. Our economy depends on entrepreneurs like you and is counting on you to help expand the growing tradition of small business opportunities. Use these guides to help you as you navigate the world of entrepreneurship and grow your small business.

What is a Small Business?

Small businesses come in all sizes and shapes. In fact, a small business can be quite large. The U.S. Small Business Administration (SBA) defines a small business as an independent concern with less than 500 employees. Here are some interesting and important facts about small businesses in the U.S. today:

• 99.7% of all firms that have employees are small businesses

• 50% of all the employees in the private sector work for small businesses

• 53% of small businesses are home-based, 3% are franchises small businesses received more than $69 billion in federal contracts in 2004

• 10.6 million businesses are at least 50% owned by women, generate $2.5 trillion in revenues, employ more than 19.1 million workers, with a $ 546 billion payroll

For more information about small businesses, go to http://www.sba.gov, and the National Association of Women Business Owners website, http://www.nawbo.org. You can learn about the various types and sizes of small businesses, emerging new business trends, Small Business Empowerment programs that provide funding and other support for start-up companies, and much more.