Monday, June 1, 2015

Historical Look at the Average Annual Receipts of Small Businesses: New York State and The Region

I recently posted about the availability of non-employer statistics from the Census Bureau. Non-employer statistics are an annual series that provides economic data for businesses that have no paid employees and are subject to federal income tax. The data consist of the number of businesses and total receipts by industry. Receipts includes gross receipts, sales, commissions, and income from trades and businesses, as reported on annual business income tax returns. Business income consists of all payments received for services rendered by nonemployer businesses, such as payments received as independent agents and contractors. The data are accessible through the U.S. Census Bureau’s American FactFinder and the Nonemployer Statistics website. Below are some of the numbers as they apply to the region (Herkimer and Oneida Counties combined) from the Nonemployer statistics.

One of the things that interesting to do is take those receipts and divide them by the number of non-employer businesses to get an average annual receipt. This number begins to shed light on what it is to own these small businesses with no other employees than the owner or family. Below is a chart from 1997 through 2013 where I've done just that (divided the total receipts by the number of non-employer businesses) for both our region, and New York State.