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Research Outline
Prepared for Jairek | Delivered September 13, 2019
Small Business in the US
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Goals
To understand how profitable most small businesses in the United States are, how much debt they have, a breakdown of how much small businesses make, and how many hours per week the average small business owner works.
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Early Findings
During our preliminary research, we were able to determine how much debt small businesses have, a breakdown of how much small businesses make, and how many hours per week the average small business owner works. Below is an overview of our early findings.
Debt
Based on a survey conducted by Experian in 2016, the average U.S. small-business owner has
$195,000
of debt.
Sales Breakdown
Based on a survey Business Know-How in 2018, the amount of sales a small business
m
a
k
e
s
depends on whether the business is full-time or part-time.
In terms most of the respondents to the survey whose small businesses are part-time claimed that they made under
$10,000 (22%)
. This is followed by
$200,000-$499,999 (15%)
,
$10,000-$24,999 (13%)
,
$25,000-$49,999 (13%)
, and
$100,000-$149,999 (11%)
.
The remainder of the respondents claimed they made sales of
$50,000-$74,999 (9%)
, more than
$1 million (7%)
,
$75,000-$99,999 (4%)
,
$150,000-$199,999 (3%)
, and
$50,000-$1 million (3%)
.
Full-time small businesses, on the other hand, have a different breakdown,
w
i
t
h
19%
of respondents claiming that made sales of
$200,000-$499,999
. This is followed by under
$10,000 (16%)
,
$100,000-$149,999 (14%)
,
$25,000-$49,999 (12%)
, and
$50,000-$74,999 (11%)
.
The remainder of the respondents claimed they made sales of
$10,000-$24,999 (9%)
, more than
$1 million (9%)
,
$500,000-$1 million (4%)
,
$150-$199,999 (3%)
,
$75,000-$99,999 (3%)
.
Small Business Owner Hours
Bureau of Labor Statistics found that the majority of small business owners work at least
50 hours per week
.
In fact, based on to a recent poll by the Bureau,
33%
of respondents claim they work
50+
hours a week.
Further more,
25%
of respondents said they work
60 or more
hours in a week.
70%
of respondents also claimed to work at least one weekend on a regular basis.
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