7,612
edits
Changes
Jump to navigation
Jump to search
=='''Survey Respondents on Small Business Issues'''=={| class="wikitable sortable" style="width: 100%;"|-! style="width: 5%;" | Survey! style="width: 1%;" | Date! style="width: 20%;"| Labor Markets! style="width: 20%;"| Capital {Project! style="width: 20%;"| Sales ! styleHas project output="width: 25%;"| General Outlook! style="width: 9%;" | Data |,Content,How-| [http://www.nfib.com/assets/SBET-February-2016.pdf SBET February 2016] | February 2016| *42% of businesses in the survey report few or no qualified applicants for a position that they were trying to fill|*4% of small business owners surveyed reported that company borrowing needs were not met |*11% cite weak sales as their principal business problem,Guide|*Spending and hiring plans fell as expectations for growth in real sales volumes declinedHas sponsor=McNair Center|('''NHas title=2194''', Data was obtained from membership files of the NFIB)|-| [http://newsroom.bankofamerica.com/files/press_kit/additional/Small_Business_Owner_Report_-_Fall_2015.pdf Small Business Owner report]| Fall 2015|*67% planned to hire 12+ employees within 2015|*46% of small businesses surveyed cite credit availability as their primary concern |*28% of businesses say they will use recently acquired funding to develop a new product or service within the next yearData|*56% say they expect the US economy to improve within the next 12 months*72% of small businesses expect their revenue to increase for the year|('''NHas owner=1,001''' small business owners inthe US with annual revenue $100Dylan Dickens,000<x<$4,999,999 and employingbetween 2<x<99 employees)|-| [https://wellsfargoworks.com/File/Index/J6WCK2WHn0yd-wrTX8btvA WellsFargo survey]|January 2016Has project status=Complete|*26% of small businesses expect to hire in Q1 2016*66% of businesses expect the number of jobs to stay the same*11% of businesses say that hiring and retaining qualified staff is their most pressing problem|*19% of businesses responded that obtaining credit was difficult*5% of say cash flow and financial stability as the company's biggest problem*4% of businesses surveyed speculate credit availability may be prohibiting company growth|*14% experienced difficulty attracting customers in Q1 2016*38% of businesses surveyed stated a positive revenue increase in Q1 2016|*67% of small businesses regard their financial situation as good or very good in Q1 2016*71% expect a positive financial future within the next 12 months *8% of small businesses say that the economy is the principal problem their business is facing |('''NHas keywords=600''' small business owners in Q1 2016)|-|[http://www.vistage.com/wp-content/uploads/2016/02/WSJ-CEO-Survey-0116.pdf WSJ survey]Data|January 2016|*54% of businesses surveyed said they expect firm size to increase|*40% of businesses reported that they expect their firm's fixed investment expenditures to increase during the next 12 mo.|*73% report an expected sales increase within the year *54% of firms expect their profitability to improve|*Investments in new plant and equipment have fallen to their lowest level in more than two years*20% of firms expect the economy to worsen in the year ahead—the highest level in more than two years.||-|[https://www.newyorkfed.org/medialibrary/media/smallbusiness/SBCS-2014-Report.pdf NY Fed Survey]|2014|*27% of businesses reported an increase in their full time staff*15% reported a decrease in their full time staff*58% of respondents reported no change in their employee base|*23% of businesses reported 10-25K of debt*62% of businesses had applied for <100K of financing*41% responded they'd sought financing from a large regional bank |*35% of respondents reported increasing revenues and positive profitability*23% of businesses said they'd experienced difficulty in attracting customers|*29% of businesses reported personal savings as their primary financing source*29% of businesses operated at a loss *13% of respondents said the increasing costs of running their business was their principal concern| 10 states of coverage: Alabama, Connecticut,Florida, Georgia, Louisiana, New Jersey,New York, Ohio, Pennsylvania, and Tennessee with businesses <500.||}}
Small Business Data (view source)
Revision as of 13:43, 21 September 2020
, 13:43, 21 September 2020no edit summary
=='''Small Business Data Sets'''==
|https://www.sba.gov/advocacy
|The News Update File is an xml news update file to inform the public about recent regulatory alerts, Advocacy small business statistics reports, Advocacy small business research reports, and Advocacy regulatory comment letters.
[[Category:Small Business]]
|-
|State Licenses & Permits
|
|}
=='''Survey Respondents on Small Business Issues'''==
{| class="wikitable sortable" style="width: 100%;"
|-
! style="width: 5%;" | Survey
! style="width: 1%;" | Date
! style="width: 20%;"| Labor Markets
! style="width: 20%;"| Capital
! style="width: 20%;"| Sales
! style="width: 25%;"| General Outlook
! style="width: 9%;" | Data
|-
| [http://www.nfib.com/assets/SBET-February-2016.pdf SBET February 2016]
| February 2016
|
*42% of businesses in the survey report few or no qualified applicants for a position that they were trying to fill
|
*4% of small business owners surveyed reported that company borrowing needs were not met
|
*11% cite weak sales as their principal business problem
|
*Spending and hiring plans fell as expectations for growth in real sales volumes declined
|
('''N=2194''', Data was obtained from membership files of the NFIB)
|-
| [http://newsroom.bankofamerica.com/files/press_kit/additional/Small_Business_Owner_Report_-_Fall_2015.pdf Small Business Owner report]
|
Fall 2015
|
*67% planned to hire 12+ employees within 2015
|
*46% of small businesses surveyed cite credit availability as their primary concern
|
*28% of businesses say they will use recently acquired funding to develop a new product or service within the next year
|
*56% say they expect the US economy to improve within the next 12 months
*72% of small businesses expect their revenue to increase for the year
|('''N=1,001''' small business owners in
the US with annual revenue $100,000<x<$4,999,999 and employing
between 2<x<99 employees)
|-
| [https://wellsfargoworks.com/File/Index/J6WCK2WHn0yd-wrTX8btvA WellsFargo survey]
|
January 2016
|
*26% of small businesses expect to hire in Q1 2016
*66% of businesses expect the number of jobs to stay the same
*11% of businesses say that hiring and retaining qualified staff is their most pressing problem
|
*19% of businesses responded that obtaining credit was difficult
*5% of say cash flow and financial stability as the company's biggest problem
*4% of businesses surveyed speculate credit availability may be prohibiting company growth
|
*14% experienced difficulty attracting customers in Q1 2016
*38% of businesses surveyed stated a positive revenue increase in Q1 2016
|
*67% of small businesses regard their financial situation as good or very good in Q1 2016
*71% expect a positive financial future within the next 12 months
*8% of small businesses say that the economy is the principal problem their business is facing
|('''N=600''' small business owners in Q1 2016)
|-
|[http://www.vistage.com/wp-content/uploads/2016/02/WSJ-CEO-Survey-0116.pdf WSJ survey]
|
January 2016
|
*54% of businesses surveyed said they expect firm size to increase
|
*40% of businesses reported that they expect their firm's fixed investment expenditures to increase during the next 12 mo.
|
*73% report an expected sales increase within the year
*54% of firms expect their profitability to improve
|
*Investments in new plant and equipment have fallen to their lowest level in more than two years
*20% of firms expect the economy to worsen in the year ahead—the highest level in more than two years.
|
|-
|[https://www.newyorkfed.org/medialibrary/media/smallbusiness/SBCS-2014-Report.pdf NY Fed Survey]
|
2014
|
*27% of businesses reported an increase in their full time staff
*15% reported a decrease in their full time staff
*58% of respondents reported no change in their employee base
|
*23% of businesses reported 10-25K of debt
*62% of businesses had applied for <100K of financing
*41% responded they'd sought financing from a large regional bank
|
*35% of respondents reported increasing revenues and positive profitability
*23% of businesses said they'd experienced difficulty in attracting customers
|
*29% of businesses reported personal savings as their primary financing source
*29% of businesses operated at a loss
*13% of respondents said the increasing costs of running their business was their principal concern
|
10 states of coverage: Alabama, Connecticut,
Florida, Georgia, Louisiana, New Jersey,
New York, Ohio, Pennsylvania, and Tennessee with businesses <500.
|
|}
=='''Holy Grail FDIC Data'''==
https://www5.fdic.gov/sdi/main.asp
=='''Minorities in Small Business'''==
=='''Council of Economic Advisers'''==
{| class="wikitable"
! Year
! Expert?
! Name
! Field of Expert
! CEA Size
! Percent
! Grade
!
|-
| 1979
| 0
| -
| -
| 13
| 0.00%
| F
|
|-
| 1980
| 0
| -
| -
| 15
| 0.00%
| F
|
|-
| 1981
| 0
| -
| -
| 16
| 0.00%
| F
|
|-
| 1982
| 0
| -
| -
| 15
| 0.00%
| F
|
|-
| 1983
| 0
| -
| -
| 15
| 0.00%
| F
|
|-
| 1984
| 0
| -
| -
| 12
| 0.00%
| F
|
|-
| 1985
| 0
| -
| -
| 14
| 0.00%
| F
|
|-
| 1986
| 0
| -
| -
| 15
| 0.00%
| F
| *junior staff with IO and Finance Darrel L. Williams
|-
| 1987
| 0
| -
| -
| 12
| 0.00%
| F
| *junior staff with IO, Regulation and Finance Randall S. Kroszner
|-
| 1988
| 0
| -
| -
| 13
| 0.00%
| F
|
|-
| 1989
| 0
| -
| -
| 13
| 0.00%
| F
|
|-
| 1990
| 1
| Adam B. Jaffe
| Regulation, Energy, and R&D
| 13
| 7.69%
| A
|
|-
| 1991
| 0
| -
| -
|
| 0.00%
| F
|
|-
| 1992
| 0
| Andrew S. Joskow
| Regulation, Energy, and Industrial Organization
| 13
| 0.00%
| B
|
|-
| 1993
| 0
| Jonathan B. Baker
| Regulation, Industrial Organization, and Law
| 16
| 0.00%
| B
|
|-
| 1994
| 0
| Jonathan B. Baker
| Regulation, Industrial Organization, and Law
| 15
| 0.00%
| B
|
|-
| 1995
| 0
| Marius Schwartz
| Regulation, Industrial Organization, and Antitrust
| 15
| 0.00%
| B
|
|-
| 1996
| 0
| Timothy J. Brennan
| Regulation, Industrial Organization, and Antitrust
| 13
| 0.00%
| B
|
|-
| 1997
| 0
| Aaron S. Edlin
| Regulation, Industrial Organization, and Antitrust
| 13
| 0.00%
| B
|
|-
| 1998
| 0
| Howard A. Shelanski
| Regulation, Industrial Organization, and Antitrust
| 11
| 0.00%
| B
|
|-
| 1999
| 0
| William H. Gillespie
| Industrial Organization
| 12
| 0.00%
| B
|
|-
| 2000
| 0
| Peter G. Klein
| Industrial Organization
| 11
| 0.00%
| B
|
|-
| 2001
| 0
| -
| -
| 11
| 0.00%
| F
|
|-
| 2002
| 0
| Cindy R. Alexander
| Industrial Organization, Corporate Finance, and Regulation
| 11
| 0.00%
| B
|
|-
| 2003
| 0
| -
| -
| 11
| 0.00%
| F
|
|-
| 2004
| 0
| -
| -
| 11
| 0.00%
| F
|
|-
| 2005
| 0
| -
| -
| 12
| 0.00%
| F
|
|-
| 2006
| 0
| Kristin McCue
| Labor, Small Business, and Economic Development
| 11
| 0.00%
| B
|
|-
| 2007
| 0
| John Stevens
| Macroeconomics, Labor, Small Business
| 11
| 0.00%
| B
|
|-
| 2008
| 0
| -
| -
| 11
| 0.00%
| F
|
|-
| 2009
| 0
| -
| -
| 9
| 0.00%
| F
|
|-
| 2010
| 1
| Ronnie Chatterji
| Entrepreneurship and Innovation
| 10
| 10.00%
| A
|
|-
| 2011
| 2
| Lee G. Bransetter; Lisa D. Cook
| International Trade and Investment, Innovation, and Manufacturing; International Finance, Entrepreneurship, Innovation and Development
| 11
| 18.18%
| A
|
|-
| 2012
| 1
| Susan Helper
| Manufacturing, Innovation, Small Business
| 11
| 9.09%
| A
|
|-
| 2013
| 0
| David Balan
| Industrial Organization, Technology, Health
| 12
| 0.00%
| B
|
|-
| 2014
| 1
| Timothy Simcoe
| Innovation, Technology, Industrial Organization
| 11
| 9.09%
| A
|
|-
| 2015
| 1
| Robert C. Seamans
| Innovation, Technology, Industrial Organization
| 11
| 9.09%
| A
|
|-
| 2016
| 1
| Victor Bennet
| Innovation, Technology, Industrial Organization
| 13
| 7.69%
| A
|
|}
=='''Firm Size & Employment'''==
Holy Grail Data: https://www.sba.gov/advocacy/firm-size-data
Inside E\McNair\Projects\Small Business as SBA Industry and Firm Size Statistics
=='''Firm Births & Deaths'''==
{| class="wikitable"
! colspan="3" | Quarterly Establishment Births and Deaths, 1993-2015
|-
| Quarter
| Births
| Deaths
|-
| Mar-93
| -
| 167,000
|-
| Jun-93
| 181,000
| 160,000
|-
| Sep-93
| 191,000
| 148,000
|-
| Dec-93
| 182,000
| 154,000
|-
| Mar-94
| 185,000
| 164,000
|-
| Jun-94
| 196,000
| 162,000
|-
| Sep-94
| 201,000
| 156,000
|-
| Dec-94
| 192,000
| 174,000
|-
| Mar-95
| 197,000
| 161,000
|-
| Jun-95
| 193,000
| 167,000
|-
| Sep-95
| 193,000
| 168,000
|-
| Dec-95
| 195,000
| 174,000
|-
| Mar-96
| 204,000
| 173,000
|-
| Jun-96
| 198,000
| 171,000
|-
| Sep-96
| 205,000
| 174,000
|-
| Dec-96
| 216,000
| 175,000
|-
| Mar-97
| 211,000
| 180,000
|-
| Jun-97
| 210,000
| 175,000
|-
| Sep-97
| 207,000
| 173,000
|-
| Dec-97
| 200,000
| 189,000
|-
| Mar-98
| 222,000
| 186,000
|-
| Jun-98
| 226,000
| 173,000
|-
| Sep-98
| 209,000
| 185,000
|-
| Dec-98
| 203,000
| 188,000
|-
| Mar-99
| 213,000
| 194,000
|-
| Jun-99
| 219,000
| 192,000
|-
| Sep-99
| 209,000
| 194,000
|-
| Dec-99
| 224,000
| 189,000
|-
| Mar-00
| 227,000
| 196,000
|-
| Jun-00
| 218,000
| 189,000
|-
| Sep-00
| 222,000
| 209,000
|-
| Dec-00
| 215,000
| 204,000
|-
| 1-Mar
| 220,000
| 214,000
|-
| 1-Jun
| 217,000
| 212,000
|-
| 1-Sep
| 218,000
| 219,000
|-
| 1-Dec
| 209,000
| 208,000
|-
| 2-Mar
| 219,000
| 199,000
|-
| 2-Jun
| 228,000
| 196,000
|-
| 2-Sep
| 217,000
| 193,000
|-
| 2-Dec
| 216,000
| 200,000
|-
| 3-Mar
| 215,000
| 194,000
|-
| 3-Jun
| 212,000
| 194,000
|-
| 3-Sep
| 210,000
| 191,000
|-
| 3-Dec
| 218,000
| 191,000
|-
| 4-Mar
| 222,000
| 193,000
|-
| 4-Jun
| 218,000
| 196,000
|-
| 4-Sep
| 224,000
| 196,000
|-
| 4-Dec
| 226,000
| 191,000
|-
| 5-Mar
| 227,000
| 196,000
|-
| 5-Jun
| 232,000
| 192,000
|-
| 5-Sep
| 236,000
| 195,000
|-
| 5-Dec
| 236,000
| 200,000
|-
| 6-Mar
| 236,000
| 195,000
|-
| 6-Jun
| 233,000
| 206,000
|-
| 6-Sep
| 224,000
| 210,000
|-
| 6-Dec
| 236,000
| 207,000
|-
| 7-Mar
| 232,000
| 205,000
|-
| 7-Jun
| 225,000
| 215,000
|-
| 7-Sep
| 233,000
| 216,000
|-
| 7-Dec
| 228,000
| 218,000
|-
| 8-Mar
| 226,000
| 224,000
|-
| 8-Jun
| 221,000
| 238,000
|-
| 8-Sep
| 216,000
| 233,000
|-
| 8-Dec
| 211,000
| 253,000
|-
| 9-Mar
| 197,000
| 247,000
|-
| 9-Jun
| 201,000
| 238,000
|-
| 9-Sep
| 192,000
| 227,000
|-
| 9-Dec
| 202,000
| 218,000
|-
| 10-Mar
| 193,000
| 211,000
|-
| 10-Jun
| 193,000
| 202,000
|-
| 10-Sep
| 207,000
| 204,000
|-
| 10-Dec
| 216,000
| 201,000
|-
| 11-Mar
| 204,000
| 200,000
|-
| 11-Jun
| 210,000
| 206,000
|-
| 11-Sep
| 205,000
| 196,000
|-
| 11-Dec
| 214,000
| 198,000
|-
| 12-Mar
| 237,000
| 187,000
|-
| 12-Jun
| 216,000
| 195,000
|-
| 12-Sep
| 211,000
| 196,000
|-
| 12-Dec
| 218,000
| 183,000
|-
| 13-Mar
| 204,000
| 192,000
|-
| 13-Jun
| 222,000
| 215,000
|-
| 13-Sep
| 219,000
| 195,000
|-
| 13-Dec
| 215,000
| 186,000
|-
| 14-Mar
| 220,000
| 189,000
|-
| 14-Jun
| 220,000
| -
|-
| 14-Sep
| 225,000
| -
|-
| 14-Dec
| 223,000
| -
|-
| 15-Mar
| 233,000
| -
|-
| colspan="3" | Note: Dashes indicate not applicable.
|}
[[File:Establishment Births and Deaths.png|thumb|center|upright=2.0]]
Source: http://www.bls.gov/bdm/entrepreneurship/bdm_chart5.htm
=='''Small Business Portion of GDP'''==
{| class="wikitable"
!
! 1998
!
! 1999
!
! 2000
!
! 2001
!
! 2002
!
! 2003
!
! 2004
!
|-
| Private NonFarm GDP
| Dollars
| Percent
| Dollars
| Percent
| Dollars
| Percent
| Dollars
| Percent
| Dollars
| Percent
| Dollars
| Percent
| Dollars
| Percent
|-
| Small Business GDP
| 3,578,026
| 50.50%
| 3836070
| 50.50%
| 4,068,879
| 50.30%
| 4,190,264
| 50.30%
| 4,139,771
| 48.30%
| 4,299,941
| 48.10%
| 4,522,139
| 47.50%
|-
| Compensation
| 1,951,708
| 48.30%
| 2076019
| 47.70%
| 2,231,086
| 47.20%
| 2,287,128
| 46.90%
| 2,334,808
| 47.30%
| 2,410,676
| 47.00%
| 2,520,466
| 46.90%
|-
| Nonlabor Components
| 1,626,318
| 53.40%
| 1760051
| 54.30%
| 1,837,793
| 54.80%
| 1,903,136
| 55.00%
| 1,804,963
| 49.50%
| 1,889,265
| 49.50%
| 2,001,673
| 48.30%
|-
| Large Business GDP
| 3,506,662
| 49.50%
| 3757240
| 49.50%
| 4,016,765
| 49.70%
| 4,143,305
| 49.70%
| 4,439,604
| 51.70%
| 4,646,881
| 51.90%
| 4,998,306
| 52.50%
|-
| Compensation
| 2,089,914
| 51.70%
| 2276711
| 52.30%
| 2,498,680
| 52.80%
| 2,586,543
| 53.10%
| 2,599,265
| 52.70%
| 2,719,761
| 53.00%
| 2,852,510
| 53.10%
|-
| Nonlabor Components
| 1,416,748
| 46.60%
| 1480529
| 45.70%
| 1,518,085
| 45.20%
| 1,556,762
| 45.00%
| 1,840,339
| 50.50%
| 1,927,120
| 50.50%
| 2,145,796
| 51.70%
|-
|
! 2005
|
! 2006
|
! 2007
|
! 2008
|
! 2009
|
! 2010
|
|
|
|-
| Private NonFarm GDP
| Dollars
| Percent
| Dollars
| Percent
| Dollars
| Percent
| Dollars
| Percent
| Dollars
| Percent
| Dollars
| Percent
|
|
|-
| Small Business GDP
| 4,698,197
| 46.30%
| 4,948,040
| 46.10%
| 5,182,230
| 46.20%
| 5,217,082
| 45.80%
| 5,080,329
| 46.00%
| 5,210,469
| 44.60%
|
|
|-
| Compensation
| 2,650,841
| 46.70%
| 2,788,759
| 46.30%
| 2,902,857
| 45.90%
| 2,951,310
| 45.70%
| 2,772,211
| 45.20%
| 2,809,979
| 44.80%
|
|
|-
| Nonlabor Components
| 2,047,356
| 45.90%
| 2159281
| 45.90%
| 2,279,373
| 46.60%
| 2,265,772
| 46.00%
| 2,308,118
| 47.00%
| 2,400,490
| 44.40%
|
|
|-
| Large Business GDP
| 5,443,589
| 53.70%
| 5,781,123
| 53.90%
| 6,025,888
| 53.80%
| 6,165,202
| 54.20%
| 5,971,081
| 54.00%
| 6,465,158
| 55.40%
|
|
|-
| Compensation
| 3,029,170
| 53.30%
| 3,234,894
| 53.70%
| 3,418,722
| 54.10%
| 3,505,231
| 54.30%
| 3,365,906
| 54.80%
| 3,455,528
| 55.20%
|
|
|-
| Nonlabor Components
| 2,414,419
| 54.10%
| 2,546,229
| 54.10%
| 2,607,166
| 53.40%
| 2,659,971
| 54.00%
| 2,605,175
| 53.00%
| 3,009,630
| 55.60%
|
|
|}
Source:https://www.sba.gov/sites/default/files/rs390tot_1.pdf
=='''Big Data for Small Business'''==
"PROGRAM CHANGE:
BIG DATA FOR SMALL BUSINESS ($1.9M / 9 FTE)
Small businesses are a critical element of the overall economy and are often at the leading edge of
risk-taking, entrepreneurship, and economic growth. Yet, unlike large corporations who have staffs of
economists, advisors, and consultants to assist in interpreting and understanding the economy and
guiding investments, small businesses largely depend on limited publicly-available data.
Recognizing this, and the Department’s role in supporting small business growth and decision-making,
as well as the need for more insight into the health of the small business sector, BEA proposes a new
suite of small business data products. To inform policy, as well as Main Street decision-making, BEA
proposes to expand data on small business by developing a Small Business Satellite Account including
a new Small Business GDP to track the overall growth and health of America’s small business sector.
This will be a key new measure, offering insight into the leading edge of the economy, as small
businesses are often the first to react to growth or contraction in their sectors or regions, often reacting
to changes in policy before larger corporations. Gaining such insight will also fulfill a key lesson learned
from the 2008 financial crisis in terms of expanding the granularity of data on business activity.
In addition to the new Small Business GDP measure, the small business satellite account will present
new data on the distribution of small businesses by size of employment and sales; legal form of
business, taxes, and net income; by industry; and by region of the country. This data will provide
meaningful descriptions and the ability to understand trends over time regarding the changes in
composition, industry, and geography of the small business sector. In addition to supporting good
public policy at the national level, these data will also be of substantial value to state and local
government as well as business development officials in understanding their regional economic
dynamics.
Coupled with BEA’s other products, such as GDP by State and Real State Personal Income, these
new statistics will represent a wealth of new information to guide small business growth and policy.
Beyond the public policy arena, expanding the Department’s data offerings to this essential
constituency will only further enhance the ability of America’s entrepreneurs to innovate, grow, and lead
successful businesses.
There are no risks to the development and production of new data, and particularly not as it relates to a
new satellite account focusing on small businesses. In this case, particularly given that no new data
ESA - 26
EXHIBIT 12 – 15
collection is proposed (the new account will be built from existing, primarily administrative, data), and
thus no additional burden will be placed on businesses to develop the necessary data.
The opportunities presented by this proposal are considerable given the well-defined record of
accomplishment of accurate, reliable, official statistical data providing the knowledge basis for
economic growth as well as smart decisions in the public policy sector.
Further, the benefit of this initiative to the Department goes to the heart of the Department’s role in
economic policy – the Department is the primary source of actionable statistics on the state of the
economy. Along with the daily provision of weather information, the weekly issuance of economic
indicators is one of the Department’s most important and visible functions. Expanding the Department’s
data offerings to such an important constituency is a highly valuable proposition for both the
Department as well as policy and business sectors.
The risk of not pursuing this proposal is perpetuating the continued lack of direct knowledge of the
economic health of the small business sector and what that sector can tell us about the health of the
overall economy. There is a clear need and desire for this information, as demonstrated by multiple
efforts over the years by SBA and various trade associations to develop similar data sets. BEA is
uniquely suited to develop this data set given its role as the custodian of the nation’s economic
accounts. Further, data on small businesses published by BEA will have the official imprimatur of BEA
as well as the full, symmetric, and broad access to the data that is true for all BEA data products.
Also of importance is that, as a BEA data set, the Small Business Satellite Account will provide data in
a consistent times series, as well as in a format and methodology consistent with all of BEA’s accounts
thus allowing expanded analysis in full context.
Given the role and importance of small businesses in economic growth and recovery, the addition of
new and better information to assist small business decision-making and investment will only serve to
support small business success. This is an outstanding opportunity for the Department to expand its
service offering to this critical constituency.
Costs are largely personnel in nature, with a $500k expected expenditure on data purchase.
ESA - 27
EXHIBIT 12 – 15
Targets without increase
FY
2016
FY
2017
FY
2018
FY
2019
FY
2020
Score on Customer Satisfaction
Survey
Greater
than 4.0
Greater
than 4.0
Greater
than 4.0
Greater
than 4.0
Greater
than 4.0
Complete all Major Strategic
Plan milestones related to
improving the economic
accounts
Successfully complete related milestones
Targets with increase
FY
2016
FY
2017
FY
2018
FY
2019
FY
2020
Score on Customer Satisfaction
Survey
Greater
than 4.0
Greater
than 4.1
Greater
than 4.1
Greater
than 4.1
Greater
than 4.1
Complete all Major Strategic
Plan milestones related to
improving the economic
accounts
Successfully complete additional milestones
specifically tied to initiative goals
Statement of Need and Economic Benefits
The additional economic statistics resulting from the implementation of this proposal will provide policy
makers, the Administration, and the Department of Commerce with key information to assess the
economic health and capacity of the small business sector to engage in economic activity. Small
businesses comprise a large portion of the business sector in the U.S. and are often the leading edge
of economic growth and contraction; yet no current Federal statistical programs exist to provide a
complete picture of the small business sector. While some features of the sector are measured in
varying ways, this proposal will pull them together into a concise picture, allowing policy makers and
business leaders to assess and anticipate small business economic capacity and respond accordingly.
Specific economic benefits of this investment:
• As has been demonstrated repeatedly since the introduction of regular, consistent, publicsector
economic data in the 1930s, detailed and quality economic statistics contribute
significantly to the overall stability of the economy, which itself contributes to economic growth.
Specific cost savings:
• While this proposal will not result in cost savings to BEA, it will result in significantly improved
economic statistics. These improved and expanded statistics will provide the right information
to develop policies and affect business investments that will improve U.S. competitiveness and
create new jobs.
ESA - 28
EXHIBIT 12 – 15
Possible return on investment:
• The return on investment to the Bureau, and the nation, is significant, as this initiative will serve
to fill notable existing gaps in official government statistics and will provide highly valuable new
detail on the small business sector, its composition, employment, and growth by region and
industry. Of great value to economic policy makers, this new data will also be of high value to
the business community, in particular small businesses. Major corporations have staffs of
economists, advisors, and consultants assisting in interpreting and understanding the economy
and guiding investments – small businesses do not.
• Better statistics allow policies to be more accurately calibrated and optimized by permitting a
more accurate assessment of their costs and benefits. The potential gains from this initiative
will certainly far exceed the relatively small cost.
Schedule and Milestones:
FY16: Research and develop methodology; conduct outreach to stakeholders to gain additional
information; and expand collaboration with other Federal agency stakeholders.
FY17: Publish methodology papers and develop initial estimates; present and secure endorsement of
methodology and initial estimates from BEA Advisory Committee
FY18: Publish prototype satellite account
FY19: Publish official data series
Deliverables:
Papers, prototype data series and final official data series published on an annual basis.
ESA - 29
EXHIBIT 12 – 15
PROGRAM CHANGE PERSONNEL DETAIL
(Actual Dollars)
Budget Program: Bureau of Economic Analysis
Sub-program: National Economic Accounts
Program Change: Big Data for Small Business
Title Band Interval Number
Annual
Salary Total Salary
Senior Economist V 1 1 152,087 152,087
Senior Economist IV 1 2 128,575 257,150
Economist III 1 3 87,411 262,233
Economist II 1 4 64,633 258,532
IT Specialist III 1 2 92,802 185,604
Total 12 1,115,606
Less Lapse (3) (278,902)
Total Full-time permanent (FTE) 9 836,704
2015 Pay Adjustment (1.0%) 8,367
2016 Pay Adjustment (1.3%) 10,986
Total 856,057
Personnel Data
Full-time Equivalent Employment:
Full-time permanent 9
Other than full-time permanent 0
Total 9
Authorized Positions:
Full-time permanent 12
Other than full-time permanent 0
ESA - 30
EXHIBIT 12 – 15
PROGRAM CHANGE DETAIL BY OBJECT CLASS
(Dollars in Thousands)
Budget Program: Bureau of Economic Analysis
Sub-program: National Economic Accounts
Program Change: Big Data for Small Business
FY 2016 FY 2016
Object Class Increase Total Program
11.0 Personnel compensation
11.1 Full-time permanent 856 856
11.3 Other than full-time permanent 0 0
11.5 Other personnel compensation 0 0
11.8 Special personnel services payments 0 0
11.9 Total personnel compensation 856 856
12.0 Civilian personnel benefits 242 242
13.0 Benefits for former personnel 0 0
21.0 Travel and transportation of persons 9 9
22.0 Transportation of things 0 0
23.1 Rental payments to GSA 0 0
23.2 Rental Payments to others 0 0
23.3 Communications, utilities and miscellaneous charges 7 7
24.0 Printing and reproduction 0 0
25.1 Advisory and assistance services 0 0
25.2 Other services 58 58
25.3 Purchases of goods & services from Gov't accounts 582 582
25.4 Operation and maintenance of facilities 0 0
25.5 Research and development contracts 0 0
25.6 Medical care 0 0
25.7 Operation and maintenance of equipment 0 0
25.8 Subsistence and support of persons 0 0
26.0 Supplies and materials 39 39
31.0 Equipment 125 125
99.0 Total obligations 1,918 1,918"
Taken from pages 26-31 of [https://www.bea.gov/about/pdf/ESA_FY_2016_CJ_Final.pdf this] report.
==U.S. innovation data (Small Business Focused)==
Example SBA Advocacy Report on Small Business Invention
*https://www.sba.gov/sites/default/files/rs411tot.pdf
US R&D Funding data
*https://www.aaas.org/page/historical-trends-federal-rd
WIPO List of Innovation Databases
*http://www.wipo.int/econ_stat/en/economics/research/
SBIR data
*https://www.sbir.gov/awards/annual-reports
Federal funding for R&D
*https://www.nsf.gov/statistics/srvyfedfunds/#tabs-2
Data check: U.S. government share of basic research funding falls below 50%
*http://www.sciencemag.org/news/2017/03/data-check-us-government-share-basic-research-funding-falls-below-50
OECD R&D spending data by country
*https://data.oecd.org/rd/gross-domestic-spending-on-r-d.htm
and PISA
*https://data.oecd.org/pisa/science-performance-pisa.htm
BRDIS
*https://www.nsf.gov/statistics/srvyindustry/about/brdis/
*https://www.nsf.gov/statistics/infbrief/nsf11300/
*https://www.nsf.gov/statistics/srvyindustry/about/brdis/panel.cfm
Global Innovation Index 2017: Switzerland, Sweden, Netherlands, USA, UK Top Annual Ranking
*http://www.wipo.int/pressroom/en/articles/2017/article_0006.html
*https://www.globalinnovationindex.org/
The 16 most innovative countries in the world
*http://www.businessinsider.com/most-innovative-countries-in-the-world-2017-6/#3-netherlands-with-a-high-volume-of-patents-filed-the-netherlands-leads-the-surveys-business-sophistication-rankings-the-country-also-falls-near-the-top-in-the-categories-of-knowledge-and-technology-outputs-which-include-things-like-inventions-and-trademarks-14
IMD World Competitiveness Center
*http://www.imd.org/wcc/world-competitiveness-center/
*http://www.imd.org/globalassets/wcc/docs/release-2017/wcy-2017-vs-2016---final.pdf
GEM data on US
*http://www.gemconsortium.org/country-profile/122
NBER Historical Cross-Country Technology Adoption (HCCTA) Dataset
*http://www.nber.org/hccta/
