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.

Small Business Market size was valued at USD 1901 Billion in 2023 and is projected to reach USD 3305 Billion by 2031, growing at a CAGR of 8.6% during the forecast period 2024-2031.

Global Small Business Market Drivers

The market drivers for the Small Business Market can be influenced by various factors. These may include:

Digital Transformation: Small businesses are increasingly adopting digital tools and technologies to streamline operations, enhance customer engagement, and gain a competitive edge. Cloud computing, e-commerce platforms, CRM systems, and digital marketing are among the key technologies that small businesses are leveraging to scale and improve efficiency. This digital shift has been accelerated by the COVID-19 pandemic, which underscored the necessity of having an online presence and digital infrastructure. Access to Capital: Small business financing is becoming more accessible, with the rise of alternative lending platforms, microloans, and crowdfunding. Traditional banks are also adapting by offering more flexible loan products tailored to small businesses. Government initiatives and grants aimed at stimulating economic recovery post-pandemic have provided additional sources of funds, empowering small business growth and expansion. Remote Work and Flexibility: The trend toward remote work has opened new possibilities for small businesses to tap into talent pools beyond their geographic confines. This flexibility not only helps in cutting operational costs related to office space but also attracts a diverse workforce. Hybrid and remote working models have forced small businesses to adopt agile practices and invest in collaboration tools and cybersecurity measures. Consumer Preference for Local and Niche Products: There is a growing consumer trend favoring local, unique, and ethically sourced products. Small businesses have capitalized on this by offering personalized and authentic customer experiences that big corporations can’t easily replicate. Emphasizing local origins and sustainability often resonates well, driving customer loyalty and repeat business. Regulatory Changes: Changes in regulatory landscapes, including tax reforms, labor laws, and trade policies, can significantly impact small businesses. For instance, the recent shifts towards more favorable tax regulations for small and medium enterprises (SMEs) can ease financial burdens and encourage entrepreneurship. Compliance with new standards also drives innovation as small businesses adapt and optimize their operations. Technological Integration and Automation: The integration of AI and automation in small business operations is on the rise. These technologies help in optimizing supply chains, enhancing customer service with chatbots, and driving data-driven decision-making processes. Automation tools that manage inventory, customer relationships, and financial transactions reduce manual workloads and improve efficiency. Economic Recovery and Consumer Spending: The post-pandemic economic recovery has generally boosted consumer confidence and spending, which in turn benefits small businesses. Government stimulus packages and economic incentives have further stimulated spending and investment in the SME sector, leading to growth opportunities and market expansion. E-commerce Growth: The massive shift towards online shopping has opened up new sales channels for small businesses. E-commerce platforms like Shopify, Etsy, and Amazon make it easier for small businesses to reach a global audience. Additionally, advancements in payment gateways, logistics, and delivery services support small businesses in managing and fulfilling online orders seamlessly. Business Support Ecosystems: There is an expanding ecosystem of incubators, accelerators, mentoring programs, and business networks that offer crucial support to small businesses. These platforms provide funding, advocacy, mentorship, and educational resources, creating a robust support system that helps small businesses thrive and scale. Sustainability and Green Practices: Growing awareness and concern for the environment have led small businesses to adopt sustainable and eco-friendly practices. Whether it’s reducing carbon footprints, utilizing renewable energy, or offering green products and services, these practices appeal to environmentally conscious consumers and can lead to cost savings and enhanced brand reputation.

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

This statistic shows the percentage of change in the number of small businesses operating in the United States from 2002 to 2012, broken down by the owner's gender. Between 2007 and 2012, the number of women-owned small businesses increased by 13.8 percent.

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

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.

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).

“Small Business Economic Development Advocacy (SBEDA) provides access to City contracts by promoting the participation of eligible local small, minority, and woman-owned businesses (S/M/WBEs) to address historically documented disparities. In FY 2023, the City of San Antonio, allocated $330 million to 517 unique local S/M/WBEs, representing the largest annual utilization in the history of the SBEDA program.

The data in this file represents actual payments during City of San Antonio FY 2023 (October 1, 2022 – September 30, 2023) to S/M/WBE prime contractors and subcontractors participating on City contracts in which the SBEDA program applied. SBEDA annual reports are considered snapshots to assess program strengths and weaknesses.”

Introduction

Small Business Statistics: Small businesses are often seen as the backbone of the economy, and rightly so. They bring fresh ideas to the market and create jobs for people who may not have opportunities in larger companies. From one-person businesses to significant job creators, small businesses are crucial to the economy.

However, with 82% failing because of cash flow problems and only 50% making it to the five-year mark, it’s clear that achieving success is not easy. Here are some Small Business Statistics that can help entrepreneurs understand the market better and position their products or services for success.

This survey shows an outlook of small business owners on their company's revenue development over the next 12 months in the United States from 2016 to 2020, by quarter. In the fourth quarter of 2020, about 53 percent of small business owners stated their revenue would increase a little/a lot until the fourth quarter of 2021.

According to a survey from December 2020, approximately 87 percent of the surveyed small businesses in India and Vietnam expected to grow in 2021. However, the majority in India hoped to grow strongly while the majority in Vietnam only a little in 2021.

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

Explore Market Research Intellect's Small Business Market Report, valued at USD 1.5 trillion in 2024, with a projected market growth to USD 2.5 trillion by 2033, and a CAGR of 6.5% from 2026 to 2033.

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.

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

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

Small Business eCommerce Software Market Outlook

The global Small Business eCommerce Software market is poised for notable growth, with the market size expected to expand from USD 5.3 billion in 2023 to an impressive USD 12.4 billion by 2032, witnessing a robust CAGR of 9.8% during the forecast period. This significant growth trajectory can be attributed to the increasing digitalization of businesses, the rising trend of online shopping, and the demand for seamless and integrated eCommerce solutions tailored for small enterprises. As more small businesses realize the potential of eCommerce in reaching broader markets and optimizing operations, the adoption of specialized eCommerce software is anticipated to bolster.

The rise of global connectivity and smartphone penetration has transformed the traditional shopping landscape, making eCommerce an essential tool for small businesses seeking growth and survival in competitive markets. Small businesses are increasingly adopting eCommerce software to streamline operations, manage inventories effectively, and enhance customer experiences through personalized services. Additionally, the enhanced capabilities of eCommerce software, such as AI-driven analytics for consumer behavior insights and automated marketing tools, are major growth drivers, enabling small businesses to compete with larger enterprises by offering agility and personalized customer engagement.

Another significant growth factor in the small business eCommerce software market is the evolving consumer preferences towards online shopping, fueled further by the global pandemic that accelerated digital adoption. Consumers now demand convenience, quick service, and personalized shopping experiences, all of which can be facilitated by efficient eCommerce platforms. Small businesses are thus compelled to invest in eCommerce software to meet these consumer expectations and retain their market share. Furthermore, government initiatives across various countries to support small businesses in digital transformation, along with favorable policies for online business operations, are expected to drive the market growth.

The increasing availability of cloud-based solutions has made it easier and more cost-effective for small businesses to deploy eCommerce software. Cloud-based platforms offer scalability, flexibility, and reduced IT infrastructure costs, which are critical for small businesses operating on limited budgets. The shift towards cloud-based solutions allows small businesses to access advanced eCommerce functionalities without substantial upfront investments, enabling them to maintain competitive pricing and enhance operational efficiencies. This development has played a pivotal role in the proliferation of eCommerce solutions adoption among small enterprises globally.

In the realm of eCommerce, Shopify Designer Services have emerged as a crucial component for small businesses aiming to create a distinctive online presence. These services offer tailored design solutions that enhance the visual appeal and functionality of eCommerce platforms, allowing businesses to stand out in a crowded digital marketplace. By leveraging the expertise of Shopify designers, small enterprises can ensure their online stores are not only aesthetically pleasing but also optimized for user experience and conversion rates. This personalized approach to eCommerce design is particularly beneficial for businesses that lack in-house design capabilities, enabling them to compete effectively with larger counterparts. As the demand for unique and engaging online shopping experiences grows, the role of Shopify Designer Services in shaping the digital storefronts of small businesses is becoming increasingly significant.

Regionally, North America and Europe are at the forefront of adopting small business eCommerce software, driven by advanced digital infrastructure and high internet penetration. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period, with a CAGR surpassing that of other regions. The burgeoning middle-class population, increasing smartphone usage, and rising disposable incomes are propelling the demand for online shopping in countries like China and India, thereby creating substantial opportunities for small business eCommerce software providers. Furthermore, the rise of digital payment systems and government-backed initiatives to support small and medium enterprises (SMEs) in their digital endeavors are likely to further augment market growth in the region.

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 Loan Market Outlook

The global small business loan market size was valued at approximately USD 1.8 trillion in 2023 and is projected to reach USD 3.1 trillion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period. The growth of this market is driven by a combination of factors including an increasing number of small and medium enterprises (SMEs) seeking financial assistance, advancements in financial technology, and supportive governmental policies aimed at encouraging entrepreneurship. As SMEs continue to contribute significantly to global economies by enhancing employment rates and contributing to GDP, the demand for small business loans is anticipated to surge, paving the way for robust market growth.

One of the primary growth factors for the small business loan market is the continued expansion of the SME sector globally. With SMEs constituting a substantial portion of businesses worldwide, there is an ever-increasing need for financial solutions that support their operational and expansion needs. This growth is further bolstered by the rise of entrepreneurial spirit, particularly in developing regions where micro and small enterprises are pivotal in economic revitalization. Additionally, the increasing digitalization of financial services has made access to loans more streamlined and accessible, thus facilitating the growth of the market by catering to a wider audience who previously might have been excluded from traditional banking services.

Moreover, the advent of financial technology (fintech) has dramatically transformed the landscape of small business lending. Fintech companies have introduced innovative solutions that not only expedite the loan approval process but also offer more flexible loan terms that are tailored to the specific needs of small businesses. These technological advancements have significantly reduced the barriers of entry for small businesses to access capital, allowing them to thrive and expand. Additionally, AI-driven credit scoring systems and machine learning algorithms have improved risk assessment, enabling lenders to offer competitive interest rates and terms, further fueling market growth.

Supportive government measures and policies are another driving force behind the growth of the small business loan market. Many governments recognize the crucial role SMEs play in fostering economic growth and job creation, leading to the implementation of favorable policies such as tax incentives, subsidies, and guarantees to encourage lending to small businesses. Programs like the Small Business Administration (SBA) loans in the United States and similar initiatives across Europe and Asia Pacific are exemplary of how government support can stimulate market growth by mitigating risks for lenders while providing much-needed capital to small enterprises.

Regionally, the small business loan market exhibits diverse growth patterns. North America remains a significant market due to its well-established financial infrastructure and the presence of numerous SMEs. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by rapid industrialization, a burgeoning start-up ecosystem, and proactive governmental support for SMEs. Meanwhile, Europe and Latin America are also witnessing increased demand for small business loans, propelled by technological advancements and economic recovery efforts. The Middle East & Africa, although smaller in market size, is experiencing steady growth due to rising entrepreneurial activities and improved financial access.

Loan Type Analysis

The categorization of small business loans into term loans, SBA loans, business lines of credit, invoice financing, equipment financing, and others, offers a comprehensive understanding of the varied financial solutions available to meet the diverse needs of small businesses. Term loans are one of the most traditional forms of financing, offering a lump sum amount to be repaid over a set period with interest. This type of loan is particularly appealing to small businesses looking to invest in capital expenditures, expansion projects, or to cover significant one-time expenses. The predictability and structured repayment plan of term loans make them a preferred choice for many small business owners.

SBA loans, backed by government guarantees, provide small businesses with access to financing that might be otherwise unavailable through conventional channels. These loans are designed to support the growth and development of small businesses by offering lower interest rates and

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.