SMBs Globally?
v Over 90% of the business population represents small and medium-sized enterprises (SMEs) globally.
Biggest – tiniest employers:
v SMEs account for 50-60% of total employment worldwide.
Start-Up Bonanza:
v In the U.S., around 543,000 new businesses are started each month, but only about 50% survive five years or more!!!
Emerging markets:
v Developing countries often have higher start-up rates. For ex, Uganda has one of the highest entrepreneurship rates in the world, about 1/3rd of adults own a business.
Business Ladies:
v Women own 36% of small businesses worldwide, and this number is steadily increasing. In the U.S., women-owned businesses have grown by 58% from 2007 to 2018.
Euro-zone WOW!
v SMEs are often the main drivers of innovation. In the European Union, 99% of all businesses are SMEs, and they are responsible for over half of the EU's GDP, driving innovation and economic growth.
Emerging economies:
v In emerging markets, formal SMEs contribute up to 40% of national income (GDP).
Marketing:
v 73% of small businesses invest in social media marketing, with Facebook being the most popular platform.
Huge $financing$ market:
v There is an estimated $5.2 trillion financing gap for SMEs globally. Access to credit remains one of the biggest challenges for small businesses, especially in developing countries.
Fun:
v New Zealand boasts the highest density of small businesses, with approximately one small business for every ten people.
v The oldest continuously operating small business in the world is the Hōshi Ryokan, a traditional Japanese inn, which has been in business since 718 AD.
v Around 50% of small businesses in the U.S. are home-based
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Ilya Ilienko, dual MBA, CPA, CMA
Board Member / Director
East Coast - United States
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