In 2021, about **** million small business firms with employees were counted in the United States. That same year, there were around ** million non-employer small businesses.

These small business statistics will tell you everything you need to know about the growth of business and where it’s going in the future.

The following small business statistics broken down by industry to help you understand the small business landscape better.

Small Business Market size was valued at USD 129.49 billion in 2023 and is poised to grow from USD 140.5 billion in 2024 to USD 269.84 billion by 2032, growing at a CAGR of 8.5% during the forecast period (2025-2032).

In the second quarter of 2024, 61 percent of surveyed small business owners indicated that the health of their business was in good shape. A further 24 percent of respondents said the health of their business was about average. At the end of 2019, small businesses in "very good" health peaked at 43 percent. By the end of 2020, this number fell to 25 percent in the wake of the COVID-19 pandemic.

The Office of Advocacy’s Small Business Profiles are an annual portrait of each state’s small business. They gather the latest federal data into state-by-state snapshots of small business health and economic activity. Limited economic data is also provided for the U.S. territories. This year’s profiles report on state economic growth and employment, income and finance, employer business owner demographics, turnover among establishments with employees, international trade, small business employment by industry and county, and self-employment by county, and small businesses by industry.

About 1.5 million jobs are created in the US every year by small businesses alone. This means that 64% of all job creation comes from small businesses.

27% of the entire small business workforce had to be laid off or furloughed in 2020 due to the COVID-19 pandemic.

Small Business Market Outlook 2032

The global small business market size was USD 2,572 Billion in 2023 and is projected to reach USD 4,985 Billion by 2032, expanding at a CAGR of 8.50% during 2024–2032. The market growth is attributed to the proliferation of small businesses.



Growing number of small businesses are becoming the backbone of global economies, driving innovation and creating employment opportunities. They are not confined to traditional brick-and-mortar establishments and are embracing digital platforms to reach a wider audience. A novel application of small businesses is the rise of micro-consulting, where individuals with specialized knowledge offer their expertise on a project-by-project basis, thereby reducing overhead costs and providing flexible, tailored solutions for clients.



Growing regulatory changes are impacting the small business landscape. The most recent being the General Data Protection Regulation (GDPR) implemented by the European Union, which applies to all businesses, regardless of size, that handle personal data of EU citizens.



This regulation has significant implications for small businesses, as it necessitates stringent data protection measures. Non-compliance results in hefty fines, thus, it is likely to increase the demand for data security services and impact how small businesses manage customer data.

Impact of Artificial Intelligence (AI) in Small Business Market

Artificial Intelligence (AI) has a considerable impact on the small business market. These enterprises automate routine tasks by integrating AI into their operations, thereby increasing efficiency and reducing operational costs. AI's predictive analytics capabilities enable these businesses to anticipate market trends and customer behavior, facilitating strategic decision-making.



AI-powered customer service tools, such as </span

A comprehensive dataset covering small business statistics in 2025, including failure rates, growth data, average revenue, number of employees, and market insights.

Average yearly sales and revenue growth for small and medium enterprises in 2020 by region, CMA level, North American Industry Classification System (NAICS), demographics, age of business, employment size, rate of growth, etc.

In August 2024, a net ** percent of surveyed small business owners in the United States had plans to increase employment in the coming three months. Additionally, around ** percent of said that they had current job openings.

One of the cool things about most small business owners is that they come from all different demographics and backgrounds.

Obstacles to business growth and level of impact of obstacle to small and medium enterprises in 2020 by region, CMA level, North American Industry Classification System (NAICS), demographics, age of business, employment size, rate of growth, etc.

According to a new study, women started 49% of new businesses in the United States in 2021. This is way up from 28% in 2019.

Small Business Phone Systems Market Outlook

The global market size for small business phone systems was valued at approximately USD 5.2 billion in 2023 and is projected to reach around USD 9.8 billion by 2032, reflecting a compound annual growth rate (CAGR) of 7.2% during the forecast period. Several growth factors are driving this market, including technological advancements, the increasing need for seamless communication in small to medium-sized enterprises (SMEs), and the growing adoption of cloud-based solutions.

One of the primary growth factors driving the small business phone systems market is the increasing digital transformation initiatives across various industries. Small businesses are increasingly adopting advanced communication tools to streamline operations, enhance customer service, and improve collaboration among employees. These systems offer features such as voicemail, call forwarding, conferencing, and integration with customer relationship management (CRM) software, making them essential for modern business operations. Additionally, the rise in remote working trends has further propelled the demand for efficient and versatile phone systems that support a distributed workforce.

Another significant factor contributing to the market's growth is the cost-efficiency and scalability of modern phone systems. VoIP (Voice over Internet Protocol) and cloud-based phone systems, in particular, are becoming popular among small businesses due to their lower installation and maintenance costs compared to traditional phone systems. These systems also offer the flexibility to scale operations up or down based on business needs, making them ideal for growing enterprises. Moreover, the integration of advanced features such as artificial intelligence (AI) for automated customer service and analytics is enhancing the functionality and value proposition of these systems.

The increasing importance of customer experience and engagement is also fostering the adoption of advanced phone systems among small businesses. In competitive markets, providing excellent customer service can be a key differentiator, and modern phone systems enable businesses to manage customer interactions more effectively. Features like call routing, automated attendants, and real-time analytics help businesses respond to customer inquiries promptly and efficiently. Furthermore, the ability to integrate phone systems with other business applications, such as CRM and help desk software, allows for a more holistic approach to customer management.

From a regional perspective, North America holds a significant share of the small business phone systems market, driven by high adoption rates of advanced communication technologies and a strong presence of key market players. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. This growth can be attributed to the increasing number of small and medium-sized enterprises in countries like China and India, coupled with rising investments in IT infrastructure and digital technologies. Additionally, government initiatives to promote digitalization and support small businesses are likely to further boost market growth in this region.

As small businesses continue to embrace digital transformation, the role of Business Phone Number Apps becomes increasingly significant. These apps provide businesses with the flexibility to manage communication on the go, allowing employees to stay connected with clients and colleagues from anywhere. Business Phone Number Apps often integrate seamlessly with existing phone systems, offering features such as call forwarding, voicemail, and messaging, which are essential for maintaining professional communication standards. Additionally, these apps can be particularly beneficial for remote teams, as they enable consistent communication without the need for physical office infrastructure. By leveraging Business Phone Number Apps, small businesses can enhance their operational efficiency, improve customer service, and adapt to the evolving demands of the modern workplace.

Product Type Analysis

The small business phone systems market is segmented by product type into VoIP Phone Systems, PBX Phone Systems, Key System Units, and Hybrid Phone Systems. VoIP Phone Systems are rapidly gaining popularity due to their cost-effectiveness and advanced features. These systems use the internet to transmit voice calls, eliminating the need for traditional phone line

U.S. Small Business Loan Market size was valued at USD 30,833.44 Million in 2023 and is projected to reach USD 56,135.67 Million by 2031, growing at a CAGR of 8.94% during the forecast period 2024-2031.The U.S. Small Business Loan Executive SummaryA small business loan is a form of financing offered to small businesses by banks, credit unions, or alternative lenders for a variety of uses, including beginning a new business, growing an existing one, buying inventory or equipment, paying for operating costs, or fulfilling other financial requirements. These loans often have terms and circumstances that are different from those of loans provided to larger firms, and they are designed specifically to meet the needs of small enterprises. There are several methods to organize small business loans: SBA (Small Business Administration) loans, invoice financing, term loans, credit lines, equipment financing, and more. The borrower's creditworthiness, the lender's policies, and the loan's intended use are some of the variables that affect the conditions of the loan, including interest rates, payback schedules, and collateral requirements. These loans are essential in helping small business owners and entrepreneurs launch, grow, and maintain their enterprises, which promotes economic growth and employment generation. But getting a small company loan frequently calls for thorough preparation, supporting documentation, and a strong business plan that demonstrates the borrower's capacity to pay back the loan.The growing need for U.S. Small Business Loan Market is driven by several factors, including the increasing number of start-ups and small businesses, availability of a variety of loan options tailored to meet the unique needs of small businesses, technological advancements in financial services, and changing consumer behavior. The United States has a supportive ecosystem for small businesses, with resources such as business incubators, accelerators, mentorship programs, and networking opportunities. These resources provide guidance, funding, and support services to aspiring entrepreneurs, helping them navigate the complexities of starting and growing a business. Thus, the number of small businesses is continuously growing in the United States. However, high interest rates act as a significant constraint on the growth of U.S. Small Business Loan Market. Businesses can be discouraged from taking out loans, leading to reduced borrowing activity and slower market growth.

Small Business Project Management Software Market Outlook

The global market size for Small Business Project Management Software was valued at approximately $2.8 billion in 2023 and is projected to reach around $6.1 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 9.1% during the forecast period. This robust growth is primarily driven by the increasing adoption of digital tools to enhance efficiency and collaboration among small enterprises. The proliferation of cloud technology and the increasing need for remote work solutions also contribute significantly to the market's expansion.

One of the major growth factors for this market is the rising awareness among small and medium-sized enterprises (SMEs) about the benefits of project management software. These tools provide a structured approach to project planning, execution, and monitoring, which is crucial for businesses aiming to optimize their resources and improve productivity. Moreover, the integration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) into project management software adds another layer of efficiency, enabling predictive analytics and automated workflows.

Another significant driver is the increasing need for real-time collaboration among team members, especially in a remote or hybrid work environment. Project management software platforms offer a centralized repository for project-related information, facilitating seamless communication and coordination among team members. This aspect is particularly beneficial for small businesses that often operate with limited resources but require high levels of organization and efficiency to remain competitive.

The affordability and scalability of modern project management software are also key factors contributing to market growth. Many software vendors offer tiered pricing models that allow small businesses to start with basic features and scale up as their needs grow, making these tools accessible to a wider range of enterprises. Additionally, the availability of free and open-source project management solutions provides an entry point for small businesses to adopt these technologies without substantial upfront investment.

Project Management Software has become an indispensable tool for businesses of all sizes, particularly small enterprises that need to manage their resources efficiently. These software solutions offer a range of features that help businesses streamline their operations, from task management and scheduling to resource allocation and budget tracking. By providing a centralized platform for managing projects, these tools enable teams to collaborate more effectively, reduce the risk of errors, and ensure that projects are completed on time and within budget. As the business landscape continues to evolve, the demand for robust project management solutions is expected to grow, driven by the need for greater efficiency and productivity.

Regionally, North America holds the largest share of the market due to the high penetration of digital technologies and a strong focus on operational efficiency among SMEs. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by the rapid expansion of SMEs and increasing investments in digital infrastructure. Europe, Latin America, and the Middle East & Africa also show promising growth potential, supported by favorable government policies and increasing awareness about the benefits of project management software.

Deployment Type Analysis

The deployment type segment of the Small Business Project Management Software market is bifurcated into Cloud-Based and On-Premises solutions. Cloud-Based project management software is gaining significant traction due to its flexibility, scalability, and cost-effectiveness. Small businesses, with their limited IT infrastructure and budget constraints, find cloud-based solutions particularly appealing. These solutions allow for easy access to project data from any location, which is a critical advantage in today's increasingly remote work environments. Furthermore, cloud-based platforms often come with regular updates and robust security features managed by the service provider, reducing the burden on small enterprises.

On the other hand, On-Premises deployment still holds relevance for businesses that require higher levels of data control and security. Industries dealing

The Office of Advocacy’s Small Business Profiles are an annual analysis of each state’s small business activities. Each profile gathers the latest information from key federal data-gathering agencies to provide a snapshot of small business health and economic activity. This year’s profiles report on state economic growth and employment; small business employment, industry composition, and turnover; plus business owner demographics and county-level employment change.

The dataset exists to observe the entrepreneurial activity of Austin over a long time period. The data comes from the U.S. Census County Business Pattern table and is capturing data at the Travis County level. It contains the cumulative count of firms by employee size and count of firms by employee size by industry. This data can be used to see changes of employer growth by industry; to project where workforce growth could be occurring; or to simply see how many small businesses there are in Austin.

View more details and insights related to this data set on the story page: data.austintexas.gov/stories/s/ndb5-si22