According to the U.S. Small Business Administration, in 2019, 30.7 million U.S. small businesses employed over 59.9 million employees. This massive portion of the workforce is made up of businesses in every industry. From one-man consulting firms, to cohorts of dog-walkers, small businesses are as diverse as the entrepreneurs than start them.
However, not every startup idea turns to gold. Nearly 20% of small businesses fail after one year and 65% fail after ten years. To avoid making the same mistakes of failed small businesses of days past, it is helpful to look at statistics from the current environment to learn how to adapt.
One current trend that small business owners should pay attention to is remote working. According to GlobalWorkplaceAnalytics.com, 90% of the U.S. workforce says they would like to work remotely for at least part of the week. Whether you already employ workers or are considering scaling in 2020, keep this trend in mind to ensure that you are creating an environment where workers are happy.
ZenBusiness has compiled 50+ small business statistics and trends that can help you make informed decisions for your business in 2020. They cover success and failure rates, gig economy statistics, remote working data, and more from recent industry studies, government organizations, and respected publications. If you are a small business owner, use this data from the current environment to guide your company in a direction that leads to success.
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