The vast majority (86%) of American adults believe that small businesses have a positive effect on the way things are going in the U.S., according to a survey from the Pew Research Center—even more so than the military (60%), churches and religious organizations (59%) and labor unions (55%).
Defined as organizations with 500 employees or fewer, small businesses make up 99.9% of companies in the United States, according to the Small Business Administration. Around 6 million out of 33 million have paid employees, which account for slightly less than half of the total private sector employment.
Around one-quarter of small businesses in the U.S. are family-owned, and just 5% are fully or partially operated as franchises, as of 2021. Men are more likely to own a small business, with just 22% majority-owned by women. Additionally, 85% of small businesses are White-owned, with Asian-Americans owning just 11%, Hispanics owning 7% and Black or African Americans owning 3%.
