Small Businesses Keep America Running - Facts and Stats

All companies can trace their origin to their beginning as a small business. Whether you started by hanging out your own shingle or you launched with the backing of investors, your business was born with a vision and grew through hard work. RingBoost was founded not just as a small business, but one with a mission to help other small businesses. When selling his successful home care practice, CEO Gregg Hamerschlag retained the toll-free assets of 1-800-HOMECARE and 1-800-HOSPICE to establish an early version what would later become RingBoost. Leveraging the shared-use model, where sophisticated technology routes calls based on the location of the caller at the time of call, the company was able to offer access to super-premium phone numbers for small businesses to license exclusively by region at affordable rates. Memorable phone numbers dramatically improve advertising response rates and increase marketing ROI. A small business starting out (or simply ready to accelerate their marketing) can get a leg up when they have a highly valuable marketing asset like a vanity phone number. After 14 years of consistent growth, RingBoost is proud to have 15 employees and has evolved into a one-stop shop for local and toll-free vanity, easy-dial, and tracking numbers. We still qualify as a small business, having fewer than 500 employees, but we operate on big ideas of how to help other small businesses succeed and get the lead generation they deserve.

Small Business Facts

This week, May 5-11th , is the 56th National Small Business Week sponsored by the US Small Business Administration (SBA). The purpose of the week is to draw attention to the critical contributions of America’s entrepreneurs and small business owners. The SBA website is filled with interesting statistics about small businesses and the impact they have on the economy. Here are a few highlights:

• 99% of U.S. businesses are classified as small businesses.
• There are 30.2 million small businesses in the US, with about 400k new ones launched annually.
• More than 50% of Americans own or work for a small business.
• Small businesses create 2 out of every 3 new jobs in the U.S. each year.
• Women own and operate 36% of small businesses
• Minority-owned businesses bring in a total of $1.4 trillion in annual receipts.
• Microbusinesses (1-9 employees) account for 3/4 of all private-sector employers.

It’s clear that small businesses are the lifeblood of the American economy.