Small business is booming is booming and entrepreneurs are leaders in the American economy.
Many factors contribute to the success of small businesses, including income, new job creation and innovation.
According to its recent membership survey, the average household income for members of the National Association for the Self-Employed was $81,600.
The majority of these members – 58.9 percent – have their businesses structured as sole proprietorships and 34 percent as corporations.
Likewise, the Small Business Administration reports that the income level of proprietorships and partnerships increased 6.3 percent to $515.8 billion.
Approximately 88 percent of NASE members have three or more employees in their businesses and 39.7 percent are considering adding full, part-time or temporary employees.
National trends indicate micro-businesses with one to four employees created 500,000 net jobs through firm births and another 500,000 through expansion.
The Small Business Admin-istration also notes that small business produces 55 percent of innovations. Small business produces twice as many of both product innovations and significant innovations per employee as large firms.
In addition, small businesses obtain more patents per sales dollar and seem to have more discoveries than large firms.
For 20 years, the NASE has been contributing to the success of the small-business owner and the self-employed. The NASE offers its members more than 100 valuable benefits designed specifically for the smallest of small businesses.
Members can enjoy discounts on a variety of business and personal tools, including office supplies, credit card processing services, hotel accommodations, travel services and auto rentals.
Members also have access to useful information through an award-winning Web site at www.nase.org, an exclusive bi-monthly magazine and free business and tax advice.
In addition, the NASE has a full time legislative staff based in Washington, D.C. to give its members a strong political voice and the negotiating power that comes with group size.
Jim Stevens is the membership representative for the Tacoma area of the National Association for the Self-Employed, a national, non-profit, non-partisan association representing the smallest of small businesses. His column will appear a few times per month.