A 2011 random sample of 1,143 small businesses (with 10 to 100 workers) owned by white women showed their average revenue was $1.9 million. Between 1982 — 2007, women businesses increased from 3 to 8 million.
Small business account for the majority of new jobs. However, their hiring depends upon demand from consumers, business-to-business sales, corporate supply chain and government purchasing.
The major objective for most small businesses is to improve business-to-business sales. Increasing on-line sales is not as important, however government sales are very important to blacks and Hispanics.
The Paryoll Tax Extension bill finally passed Congress, but the arguing among Republicans and Democrats is hurting small business confidence–63% said it is making them more pessimistic.
The recession hurt employment in Hispanics/Latino-owned small businesses more than it did for any other race or ethnic group; 55% of Hispanic businesses cut their work force while 29% cut it by 50% or more.
According to the Gazelle Index, more than twice as many small businesses plan to hire workers than to lay off workers over the next three months. This is true for businesses owned by blacks, whites, men and women–but not for Hispanic/Latinos.
The Gazelle Index is a national survey of small businesses owned by whites, blacks, Hispanics, men and women. Small business hiring will increase in 2012 in all regions except the West and for all groups except Hispanics.