November 19, 2013
Analysis of small business data reveals that Internet-based tools and services can facilitate accelerated micro business growth across industries.
CHICAGO—November 19, 2013—Analysis released today by the Insureon Small Business Institute (ISBI) shows that small and micro businesses have, in the past 20 years, become a major source of jobs and economic growth in the U.S. economy.
The ISBI report, "Small and Micro Businesses: America's Growth Engine," highlights research from the Small Business Administration and the Freelancers Union that shows that independent workers and small-business owners currently account for one in three American workers. By 2020, that number is expected to grow to one in two.
The report also notes that the majority of small-business owners are, for the first time, comfortable buying commercial insurance online – and that they are turning to the Internet in droves to find commercial insurance products.
"Small businesses are a tremendous growth driver for the U.S. economy," said Ted Devine, CEO of insureon, the nation's leading provider of micro business insurance. "This report shows that, by providing Internet-based tools and services to micro-business clients, insurance advisors and others can greatly facilitate revenue growth and job creation in this key sector."
The report combines analysis of search engine trends, surveys of small-business owners, and U.S. Census data to propose an accelerated growth path for the nation's micro businesses. The complete report can be downloaded at www.insureon.com/insureonu/insureon-institute.aspx.
The Insureon Small Business Institute is the research and education arm of insureon, the nation's leading online small business insurance agency, which specializes in serving micro businesses, including freelancers and independent contractors. As part of its commitment to educating the small-business owners it serves, insureon launched the ISBI in 2013. More information is available at www.insureon.com/insureonu/insureon-institute.aspx.