The Census Bureau today released new national-level statistics on business owners including owner’s age, education level, veteran status and primary function in the business; family-owned and home-based business status; types of customers and workers; and sources of financing for start-up, expansion or capital improvements.
The survey found that more than half (51.6 percent) of all businesses that responded to the 2007 Survey of Business Owners (SBO) were operated primarily from someone’s home in 2007. In addition, only 6.9 percent of these home-based businesses had $250,000 or more in receipts, while 57.1 percent of home-based businesses brought in less than $25,000. About 23.8 percent of employer respondent businesses and 62.9 percent of nonemployer respondent businesses were home-based.
“Most businesses are started by people who dig into their own pockets for at least some of their start-up capital,” said Census Bureau Deputy Director Thomas Mesenbourg. “This is true for both firms with employees and those without them. Furthermore, more than one in five (20.8 percent) of respondent businesses used no start-up capital at all.”
The two data sets released today are from the 2007 Survey of Business Owners: Characteristics of Businesses: 2007 and Characteristics of Business Owners: 2007. All findings are for respondent firms only.
Numerous organizations such as the MBDA , the Small Business Administration, the National Chamber of Commerce, the Urban League, the Hispanic Chamber of Commerce and others use these data to track the progress of minorities and women as entrepreneurs. Release Estimates by Gender, Race and Veteran Status