U.S. Small Business Profiles for 2025: Key Data Points on Small Business

By SBE Council at 28 July, 2025, 2:03 pm

by Raymond J. Keating –

The Small Business Administration’s Office of Advocacy recently updated its national, states and territories Small Business Profiles for 2025.

These offer interesting insights and data on the state of small business. The national profile, for example, notes:

● There are 36.2 million small businesses in the U.S. accounting for 99.9 percent (fewer than 500 employees) of all U.S. businesses.

● From March 2023 to March 2024, small businesses accounted for 88.9 percent of the net increase in jobs.

● On the lending front, “In 2023, reporting banks issued $84.2 billion in loans to U.S. businesses with revenues of $1 million or less. Total reported new lending to businesses through loans of $1 million or less was $242.9 billion. Total reported new lending to businesses through loans of $100,000 or less was $104.4 billion.” (See the following chart from the Office of Advocacy.)

● Finally, while veterans make up 4.3 percent of workers, they own 5.3 percent of businesses. Given a willingness to face risks and uncertainties, among other key traits, no one should be surprised that veterans have a higher entrepreneurial tendency relative to their population.

There’s more valuable information available. And for small business owners considering location of operations and/or customers, the state profiles provide sound leaping off points.

Raymond J. Keating is chief economist for the Small Business & Entrepreneurship Council. He is the author of “The Weekly Economist” book series, and 10 Points from Walt Disney on Entrepreneurship.