- Represent 99.7 percent of all employer firms.
- Employ just over half of all private sector employees.
- Pay 44 percent of total U.S. private payroll.
- Have generated 64 percent of net new jobs over the past 15 years.
- Create more than 50 percent of nonfarm private gross domestic product (GDP).
- 93% of US consumers believe it’s important to support the local small businesses that they value in their community
- 87% believe that small businesses are a critical element of the overall U.S. economic health
- 89% agree that locally-owned, independent businesses contribute positively through taxes and jobs
- 73% consciously shop at small businesses in their community because they do not want them to go away
If independents regained their 1990 market shares, entrepreneurs could create 200,000 new small businesses, generate nearly $300 billion in revenues in the retail and restaurant sectors and employ more than 1.6 million American workers.
- Independent retailers that are in communities with a “buy local” initiative reported revenue growth of 5.6% on average in 2010, compared to 2.1% for those elsewhere.
- Independent retailers that are in communities with a “buy local” initiative saw a 5.2% increase in holiday sales in 2010, while those elsewhere reported an average gain of 0.8%.
- More than half (55%) of business owners that live in cities with an active “buy local” initiative said that the campaign made existing customers more loyal.