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American Businesses and the People Who Make Them Run
With an annual gross domestic product approaching $8 trillion
annually, the US. economy offers a gold mine of intriguing
statistics. Here are some of the most interesting.
• 59 percent begin their work day by reviewing a daily
action plan
• 11 percent spend between two and seven hours per day in
meetings, yet only 36 percent believe that none of this
time is wasted
• The average American worker spends 9.5 hours per week
on a computer
• 65 percent listed spending more time with their family
as a priority or goal in their lives
• 40 percent said that they would put in 10 extra hours
a week in return for higher pay
Family-owned Businesses
• The median family-owned American business was founded
in 1951, employs 50 workers, and has $9 million in annual
revenue
• 23 percent of owners have no estate conservation plan
other than a simple will
• 36 percent of owners expect life insurance to cover a
large majority of estate taxes, yet
• 54 percent do not have a formal valuation of their shares
in the company
• 43 percent of owners do not take advantage of the $10,000
gift tax exclusion for their children
• Of those who use the $10,000 exclusion, 48 percent give
company stock
• Just 20 percent of owners have 80 percent or more of their
family's net worth tied up in the business
• 93 percent of owners have no documented investment policy
for their family's personal investment portfolio
Small Businesses and the U.S. Economy
Small businesses ...
• Represent more than 99 percent of all employers
• Employ 52 percent of the private work force
• Create virtually all of the net new jobs
• Produce 51 percent of the private-sector output
• Represent 96 percent of all exporters of goods
• Increased by 885,416 in 1997 - a 5.1 percent rise over
the 1996 increase
1) "Survey on Adults and Their Time:' Day-Timers,
Inc., 1997-98
2) "American Family Business Survey '97," Arthur Andersen
& Co.
3) "Small Business Answer Card 1998," U.S. Small Business
Administration Distribution of Employer Firms in the U.S.,
1995 In 1995, more than 60 percent of all U.S. businesses
had no more than four employees, while less than one-third
of I percent had more than 5OO workers. Employment is measured
in March, which leads to firms with zero unemployment and
some annual payroll. Source: U.S. Small Business Administration
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