More than 90 percent are small, and many are new. The makeup of the small-business sector is constantly changing. While some businesses are starting, others are closing shop. Statistically, more than 70 percent of new businesses fail within their first five years. Industries that Attract Small Businesses.
Small enterprise ranges from corner newspaper vending to the development of optical fibers.
This category accounts for about 48 percent of all small businesses. Of these, about 75 percent provide non-financial services and about 8 percent offer financial services. This category includes the construction, mining, and manufacturing industries. It accounts for about 19 percent of all small businesses. Table 5.1 shows the fastest-growing industries in small business.