May 25th, 2017 by WCBC Radio
In 2012, according to U.S. Census Bureau data, there were 5.73 million employer firms in the United States. Businesses with less than 20 workers made up 89.6 percent. Add in the number of non-employer businesses – there were 23.0 million in 2013 – then the share of businesses with less than 20 workers increases to 97.9 percent. Among employer C Corporations in 2012, 86.2 percent had fewer than 20 employees.
According to the Small Business Administration’s Office of Advocacy, small firms accounted for 63 percent of the net new jobs created between 1993 and mid-2013 (or 14.3 million of the 22.9 million net new jobs). Since the end of the recession (from mid-2009 to mid-2013), small firms accounted for 60 percent of the net new jobs. According to U.S. Census Bureau data, employer firms with fewer than 100 workers employed 34.3 percent of private sector payrolls in 2011 and those with less than 20 workers employed 17.6 percent.
Entrepreneurship is alive and well in Allegany County. Over the past two years nearly 20 new startup small businesses have opened in the central business districts of Frostburg and Cumberland alone.
Startup businesses have unique challenges especially in the early years of their business cycle. Recognizing these needs, the Allegany County Chamber of Commerce has introduced “Startup Allegany”, a new membership category designed specifically for small startups with under 50 employees. With a reduced simplified dues structure for the first two years, Startup Allegany also provides startups with free advertising in Chamber newsletters, a feature in a “Startup Spotlight” and discounted advertising in the Chamber of Commerce Community Profile & Membership Directory in addition to the number of other benefits enjoyed by all Chamber members.
For more details and a membership application, contact the Chamber office at 301-722-2820 or online at alleganycountychamber.com.
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