F H S Class of 87

Source: Hawaii Reporter, By John McDowell,

WASHINGTON, D.C. – Small businesses are the heart of Hawaii’s economy, and the Office of Advocacy of the U.S. Small Business Administration is acknowledging them with the top Ten Reasons To Appreciate Hawaii Small Businesses.

They Are The Heart Of The State’s Economy

• 10. Small businesses make up 96.8 percent of all Hawaii employers.

• 9. Small businesses create more than 50 percent of the American nonfarm private gross domestic product (GDP).

• 8. Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms.

• 7. The 113,800 small businesses in Hawaii are located in every community and neighborhood.

• 6. Small businesses employ 57.4 percent of Hawaii’s non-farm private sector workers.

• 5. Home-based businesses account for 53 percent of all small businesses.

• 4. Small businesses are 97 percent of America’s exporters and produce 26 percent of all export value.

• 3. Hawaii saw an estimated 3,763 new small firms with employees start-up in the last year measured.

• 2. There are approximately 58,100 minority-owned businesses and 29,897 women-owned businesses in Hawaii, and almost all of them are small businesses.

• 1. The latest figures show that small business creates 65 percent or more of America’s net new jobs.

The Office of Advocacy, the “small business watchdog” of the government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats and it funds research into small business issues.

For more information, visit the Office of Advocacy website at www.sba.gov/advo

The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The presidentially appointed Chief Counsel for Advocacy advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers. For more information, visit www.sba.gov/advo, or call (202) 205-6533.