The Compass Small Business and SOHO (small office/home office) product update release will be made available early next week.  In light of this database’s continued growth I thought it appropriate to highlight a few facts and figures surrounding these business owners and what they mean to our economy. 

You often hear politicians and pundits use the small business owner as a talking point when pushing their policies and agendas.  How many times have you heard that small businesses are the largest generator of new jobs OR that the tax burden placed on small businesses is stifling job growth?  The answer is often but as with most political footballs it is difficult to decipher fact from fiction. The facts are the facts as they say and here they are. 

According to the SBA Office of Advocacy, U.S. Department of Commerce, Census Bureau, International Trade Administration, U. S. Department of Labor and the Bureau of Labor Statistics, small businesses continue to be the key to our nation’s economic well being and account for a significant share of the U. S. economic production and hiring. 

How important are small businesses to the U. S. economy?
• Small businesses represent 99.7 percent of all employer firms. 
• Employ about half of all private sector employees. 
• Pay 43 % of total U. S. private payroll. 
• Have generated 65% of net new jobs over the past 17 years. 
• Create more than half of the non-farm private GDP.
• Hire 43% of high tech workers (scientists, engineers, computer programmers)
• Are 52% home-based and 2 percent franchises
• Made up 97% of all identified exporters and produced 31% of export value in 2008. 
• Produced 16.5 times more patents per employee than large patenting firms. 
The Office of Advocacy defines a small business as an independent business having fewer than 500 employees. The definition of “small business” used in government programs and contracting varies by industry. 

Clearly, based on this information Small Business is the backbone of our nation’s economic growth and will be well into the future.  We continue to be a nation of entrepreneurs! 

It is true taxes and regulations placed upon small business owners do prevent growing at the fast pace many of us would like. Unfortunately small businesses have very little control over these burdens. 

The good news is small business owners do control how and whom they do business with. Small Business owners, presidents, CEOs and professionals are responsible for overseeing and making decisions for every operating area of their company.  But first and foremost growing their business is the top priority. 

Small business owners are forced to wear multiple hats and their time is often diverted from growing their business to dealing with all that comes with operating a company.  (Payroll, Tax Compliance, Office Supplies) Outsourcing to other small businesses that specialize in marketing, accounting, humane resources, etc. is a logical solution for today’s small business owner.  It allows them the time they need to focus on what they do best, producing and selling their products and services.  

Finding other small businesses to partner with in this manner is easier than ever before with the vast number of social networking offerings and organizations like Compass who specialize in compiling accurate and robust information on small businesses. 

Compass Marketing has perfected a specific methodology for identifying, compiling and verifying small US Businesses and their top decision makers.  Our compilation team utilizes a multi step process, which includes in part, phone directory and assistance information, annual reports, business directories, government filings and various other ancillary sources.  This information is verified and updated monthly. 

The Compass Small Business Intelligence and SOHO Intelligence databases have all of the information you need for reaching your ideal small business customer. 

Small businesses buying and selling from each other is a plan for economic growth and job creation we can all stand behind.  No politicians needed.