Small businesses are the heart of Hawai’i’s economy, and officials in the Office of Advocacy of the U.S. Small Business Administration wanted to honor them with a David-Letterman-style top 10 list:
Top ten reasons to love Hawai’i small business:
10. Small business make up 96.7 percent of all Hawai’i employers;
9. Small businesses create more than 50 percent of the American non-farm private gross domestic product (GDP);
8. Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms;
7. The 105,240 small businesses in Hawai’i are located in every community and neighborhood;
6. Small businesses employ 57.5 percent of Hawai’i’s non-farm, private-sector workers;
5. Home-based businesses account for 53 percent of all small businesses;
4. Small businesses are 97 percent of America’s exporters, and produce 26 percent of all export value;
3. Hawai’i officials saw an estimated 3,698 new small firms with employees start-up in the last full year measured;
2. There are approximately 58,300 minority-owned businesses and 29,904 women-owned businesses in Hawai’i, and almost all of them are small businesses;
1. The latest figures show that small business creates 65 percent or more of America’s net new jobs.
Those in the SBA Office of Advocacy, the “small-business watchdog” of the government, examine the role and status of owners and operators of small businesses in the economy, and independently represent the views of those in small business to leaders of federal agencies, Congress, and the president.
They are the source for small-business statistics presented in user-friendly formats, and fund research into small-business issues.
For more information, visit the Office of Advocacy Web site at www.sba.gov/advo.
Those in the SBA Office of Advocacy are an independent voice for owners and operators of small business within the federal government.
chief counsel for advocacy advances the views, concerns, and interests of small business owners and operators before members of Congress, the White House, federal agencies, federal courts, and state policy makers.
For more information, visit www.sba.gov/advo, or call 1-202-205-6533.