1                                                                                  Issue  2010-1                                                    Making it Happen

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Text Box: Making it Happen Text Box: Issue: 2010- 01 Text Box: Date: March 2010 Text Box: UTPB Small Business Development Center Text Box: among the one percent most cited and outperform large firm patents in growth, patent originality, and patent generality. Small firms are attractive destinations for elite inventors who previously worked for public sector organizations. The share of highly productive inventors at large firms fell from 72% to 69%, while the share at small firms rose from 12% to 16% between the mid 1990s and the early 2000s, according to the SBA. Texas Facts Texas ranked No. 3 for the friendliest states for small businesses in 2009, according to the Small Business & Entrepreneurship Council. Texas had 386,422 small businesses in 2006, representing 98.7% of the state’s employers and 46.8% of its private sector employment. Small businesses created 44.3% of the state’s net new jobs from 2004 to 2005. The key industries for Texas’ small business are professional/scientific/technical services, retail trade, healthcare, and construction. Source and more information: http://www.texaswideopenforbusiness.com/assets/documents/Small-Business-one-pager-small.pdf Text Box: U.S. & Texas Small Business Overview General Facts The U.S. had 6 million small businesses in 2006, according to the latest data from the U.S. Small Business Administration (SBA), which defines a small business as one with fewer than 500 employees. Small business comprises 99.7% of all U.S. private employers, employs 50.2% of all private sector employees, pays 44% of total U.S. private payroll, and creates more than half of U.S. gross domestic product (GDP). More than one in two people in the U.S. private workforce work for or run a small business, according to data from the SBA Office of Advocacy and the U.S. Census Bureau. Small business made up 97.3% of all identified exporters and exports an average of $375 billion in goods and services every year. Since 1989, small business has created 93.5% of all net new jobs, totaling 21.9 million new jobs in the past 19 years — or 4,000 jobs per day, according to the National Small Business Association. Economic Innovation-Related Facts The key industries for small firms include biotechnology, pharmaceuticals, medical electronics, medical equipment, communications, telecommunications, information-technology, semiconductors, and gaming. Small business employs 40% of U.S. high tech workers, including scientists, engineers, and computer programmers. Small business produces 13 times more patents per employee than large patenting firms. Small business patents are twice as likely as large firm patents to be