Entrepreneurs may be bragging a lot next week, which marks National Small Business Week. And they have a lot to crow about.
Here are some little-known facts from the National Federation of Independent Business Research Foundation, the statistical arm of the National Federation of Independent Business, which represents more than 600,000 businesses nationwide.
Small, innovative firms produce 13 times more patents per employee than large firms, and the small companies’ patents are twice as likely as large firms’ to be among the one percent most cited.
Ninety-one percent of small-business owners contributed to their community in the last year through volunteering, donations or other contributions, or all three.
The estimated average value of contributions totals $6,600 per small employer, for a total of about $40 billion nationwide.
Thirty-seven percent who volunteer also hold an office, including a board position, in one or more community organizations.
A large percentage of small business owners is registered to vote: 95 percent; 84 percent vote and 3 percent run for elective office.