Small Business Can Succeed!

Small businesses are the backbone of the American economy. Typically a small business is defined as having fewer than 200 employees. Of all US businesses, it is estimated that more than 99% are small business. Nationally, small businesses:
 Create 75% of all new jobs
 Employ 52% of the business workforce
 Produce 51% of our nations private sector gross domestic product (GDP)
 Generate 96% of all the US exported goods and services
 Include 7 million women and minority-owned firms
 Provide about 67% of “first job” opportunities
 Produce more than half of the innovations in products
As you can see, small businesses do succeed. Do you have what it takes?

Here is a great tip….accounting functions, as mundane as they sometimes seem, are actually your biggest secret weapon for business management, growth, and success! Only with accurate and consistent measurement of your company’s financials can we as business owners effectively manage and expand our business. Verace Accounting is here to help you succeed. Contact us to see how we can help you grow!

5 Responses to Small Business Can Succeed!

  • Great statistics! And it’s so important to know the numbers — we can make much smarter decisions when we can see where our income is coming from, where it’s going, what’s working and what’s not.

  • And not only the USA. Here in NZ small business represents 80% of the business and when I visited India I met mainly small businesses. And small businesses need to do the accounting – otherwise they don’t know where they are. But accounting is only one part and concentrating on the bottom line has gotten too many companies in trouble. People are what needs to be concentrated on – the buyer, the staff and the community. The bottom lime then takes care of itself but still needs accounting for

  • Thanks for the reminder that small business are the backbone of our economy. And I love the paradigm shift of accounting as a secret weapon. Thanks!!!

  • Thanks for sharing the stats on small business. I have believed for a while now that it has been big business that was a big part of getting us into this economic mess, and it will be the small business that will pull us out!

    I enjoy being a small business and entrepreneur, helping others to succeed is my passion. I meet so many others, especially the wonderful people in our TLC Club that all have the strong, positive and determined mindset to help each other succeed.

    Your tip on knowing your company’s financial status is very important and I agree with that 100%.

  • Great statistics and true! Small Businesses are the way to go. Large corporations (my opinion) have gotten us into this mess and small business will get us out!

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Verace Accounting…

10950 N. La Canada #6204
Tucson, AZ 85737

520 668-9338