Media Statistics

NASE Micro-business Facts

• Forty-three percent of the self-employed and micro-business owners say that this is the worst economic downturn that they have experienced, and one-quarter say it is the first slump they have experienced with their current business.
• The nation’s entrepreneurs are ready for major changes to the American health care system, but are asking the federal government to implement various proposals to help them cope with the costs. When asked for the most important component of health reform, 60 percent of micro-business owners cited cost containment, even over access and choice.
• Three-quarters of business owners reported cutting down on the amount of travel associated with their business because of high energy costs.
• About two-thirds of micro-business owners have personal health insurance coverage, but only 19% offer coverage for full-time employees.
• Micro-businesses said high interest rates, surprise interest rate hikes and unwarranted late fees from credit cards left their heads spinning. The self-employed often struggle to obtain financing through traditional lending institutions and about half use credit cards regularly for business expenses.
• More than three-quarters of the micro-business owners surveyed (77 percent) are not planning on hiring workers. The majority indicated that they were unable to pay the salary of or offer benefits to an additional worker.
• When asked which factor is the most burdensome aspect of the federal tax code, 35% of the self-employed said the complexity of the tax code and tax forms.