| SBA Small Business Fact Sheet Updated |
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The Office of Advocacy has posted an update to its widely referenced publication, Frequently Asked Questions (FAQ). Among other factoids, the office estimates that there were 27.2 million businesses in 2007 -- virtually all of which would be classified as "small." Between 2004 and 2005 (the most recent year with dynamic data), small businesses accounted for 78 percent of the net new jobs. In addition, the FAQ references a survivability study by Amy E. Knaup and Marissa C. Piazza which was published in the September 2007 issue of the Monthly Labor Review. This research stated that two-thirds of new employer establishments survive at least two years. In addition, 44 percent and 31 percent survive at least four years or seven years, respectively. Frequently Asked Questions is located at: http://www.sba.gov/advo/stats/sbfaq.pdf |
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