CNNMoney.com:
The notion of a typical ‘mom and pop’ business is getting a makeover, the government reported lately.
Yesterday’s image of a family-run corner store is giving way to nail salons, Internet-based auction sites and even motorcycle dealerships, according to the Census Bureau survey of small businesses run by one or more people that range from home-based firms to corner stores.
The nation added nearly a million businesses with no paid employees in 2004 to reach 19.5 million, up 4.7% from a year earlier, the Census Bureau said. The numbers reflect the latest available figures. Businesses without a payroll now make up more than 70% of the nation’s more than 27 million companies, with annual sales of about $887 billion, the survey said. Building contractors, Internet service providers, nail salons, e-shopping and mail-order houses, lessors of real estate, formal wear and costume rental stores and motorcycle dealers were among the fastest growing of the smallest firms.
Florida led the nation in the growth of these small businesses with a 7.6% increase. Georgia climbed to second place with a 7.1% increase, while Nevada fell from 1st to third place with a 6.4% increase. Rounding out the top five were Utah and Arizona, up 6.1% and 5.8%, respectively. The Census Bureau report uses information from administrative records of the IRS.
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