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February 14, 2005
Small Business Statistics
The NFIB has released a report breaking down small business statistics. Some highlights from the report are as follows:
- More than 1 in 4 small businesses with employees use the owner's home as its primary location - 59% of small businesses with employees are owned by a single individual - The most common legal form for small businesses with employees is S Corps (31%) followed by C Corps (26%), followed by proprietorships (21%) then LLCs (12%) and partnerships (6%) Note- I found the legal form statistic to be most surprising since LLCs offer limited liability without the corporate formalities. Also, LLCs tend to have less complicated tax rules and can easily be converted to a corp. at a later date if need be. Therefore, I expected LLCs to be used most often for small businesses than the corporate forms.
Posted by Nick Infusino at 12:35 PM in Small Businesses | Permalink
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