Small businesses are vital to the economy. They provide a significant number of jobs, are less bureaucratic than large firms, and generally operate with more flexibility than their corporate counterparts. However, they often have fewer resources and may be more vulnerable to economic changes. That’s why it’s important for small business owners to stay informed, and find the right tools and resources to help them thrive.
Whether you’re looking for inspiration or advice on how to grow your small business, NerdWallet has you covered. From important definitions to expert growth tips, this guide provides all the information you need to take your company to the next level.
There are more than 33 million small businesses in the United States, making up 99.9% of all businesses. These businesses are diverse in size, revenue, and ownership structure, but they all share one thing: They make a difference.
In a recent survey, Americans ranked small businesses as the most positive force in their local communities, outranking even the military and churches. But running a small business isn’t for everyone. The risk is high, and many small businesses don’t turn a profit for years—or sometimes ever. And, if they do fail, it can be devastating.
It’s essential for small business owners to understand how their taxes work, and the best ways to save money. In addition, a good understanding of the legal landscape is key — from registering as a government contractor to finding a small business attorney.
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