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By the numbers: Small business

By Amy Roberts, CNN Library
updated 1:42 PM EDT, Fri July 13, 2012
Only 45% of new businesses established in 2004 were still around in 2009.
Only 45% of new businesses established in 2004 were still around in 2009.
STORY HIGHLIGHTS
  • Three small business tax cut bills were rejected by Congress this week
  • $7 million is the largest amount of annual receipts a business can have and still be "small"
  • $87 billion is the potential amount added to the GDP by small business

(CNN) -- Senate Republicans on Thursday blocked a Democrat-backed bill that would have extended tax cuts to small businesses.

Both sides indicated the vote was political one -- Democrats said Republicans blocked the bill to cost President Barack Obama political points. Republicans said that the legislation was a campaign stunt and wasn't enough to have any impact on jump-starting the economy.

By the numbers, here's a look at small business in America:

CNN Money: Small Business

3 - Small business tax cut bills that were rejected in the U.S. Congress this week.

1953 - Year the U.S. Small Business Administration was founded.

499 - Highest number of employees a business can have to be considered a "small business."

249 - Maximum workers employed at a "small business" in the 1950s.

79 - Percent of American businesses that are non-employee businesses, with no employees other than the proprietor.

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$7 million - Largest amount of average annual receipts to qualify as a small business.

20 - Percent of income eligible for tax deduction by small businesses under the Small Business Tax Cut Act, proposed by House Majority Leader Eric Cantor.

$73 billion - Amount of the projected total increase in personal incomes if the Democrats' Small Business Jobs and Tax Relief Act had passed in the Senate.

$87 billion - Amount potentially added to the GDP.

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990,592 - Estimated number of jobs that would have been created.

10% - Tax credit on new payroll, a hiring incentive for business owners under the Senate Small Business Jobs and Tax Relief Act.

7 - Shortage of votes needed for the Senate to be able to invoke cloture and end the debate on the bill.

5,749,797 - Firms in the U.S. with fewer than 500 employees, as of 2009.

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56,281,503 - Employees of small firms with fewer than 500 workers, in 2009.

2.4 million - Businesses owned by veterans, making up 9% of all businesses, as of 2007.

45 - percent of new businesses established in 2004 that were still around in 2009.

2 - Percent of Americans with incomes higher than $250,000 annually, those who would be affected by the expiration of the Bush-era tax cuts, according to President Obama.

1 in 6 - Baby boomers surveyed in 2011 by AARP who expect to eventually have their own business.

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