01 Jul 21 Financial Graphs + Statistics for 2021 Business Insights
How do people make financial decisions about their business and personal budgets? We wanted to dig deeper into the phenomenon that is encompassed in financial decisions – and found some interesting and powerful financial statistics and graphs that will blow your mind.
21 Crazy Financial Statistics for 2021
1. What percentage of people have saved for retirement? 52% feel behind on their retirement savings goals
2. How much do most people have saved? 57% of Americans had less than $1,000 in a savings account.
3. How many people have outstanding debt? About 77 million Americans, or 35 percent of adults with a credit file, have debt in collections reported in their credit files.
4. Do most people have money saved? Just 46 percent of Americans have a rainy day fund
5. What do people normally pay down on their credit card? Nearly one-third of Americans pay the minimum due on their credit card each month.
6. What do most people have saved? Of the Americans who have savings accounts, the median savings account balance is $5,200. The average, or mean balance is $33,766.49. (SmartAsset)
7. What’s the most common financial worry? CPA financial planners conducted a survey to see what their clients were worried about the most, and a staggering 41% reported that running out of cash was their biggest concern.
8. What percentage of people have a budget? A Gallup poll found only about 1/3 of Americans (32%) maintain a household budget
9. How much debt do Americans have? According to the latest 2018 data from the Federal Reserve: Americans hold over $1 trillion in staggering credit card debt ($1,023,000,000,000). Nonrevolving debt (loans) total over $2.8 trillion ($2,842,400,000,000).
10. How much consumer credit do Americans have, and how has it changed over the last 20 years? Consumer credit has gone down considerably according to the Federal Reserve – dropping the most during the highlighted recessions on the graph below.
Crazy Business Financial Statistics for 2019
11. Why do some small businesses fail? According to a U.S. Bank study, a whopping 82% of businesses that fail do so because of cash flow problems.
12. How much does it take to start a business? According to the Wells Fargo Small Business Index,$10,000 is the average amount of startup capital required by a small business owner.
13. How many small businesses are profitable? Only 40% of small businesses are profitable
14. How much do business owners make? 86.3% of small business owners take a salary of less than $100,000 annually
15. How much taxes do small businesses pay? Small businesses overall pay an estimated tax rate of 19.8%
16. How important are small businesses to the economy? Between the middle of 2009 and the middle of 2013,60% of the jobs created were from small businesses.
17. What’s the normal or best legal structure for a small business? The majority of small businesses surveyed are S-corporations (42%), followed by LLCs (23%). S-corporations are popular in part because they’re not double-taxed: you don’t pay taxes on the earnings of the business itself.
18. Why do startups fail? Despite the many potential causes of failure,42% of startups fail because of a lack of market need.
19. What’s the best age to start a business? According to a study by two MIT professors and the U.S. Census Bureau, a “40-year-old is 2.1x as likely to found a successful startup as a person who is 25.”
20. What is the normal profit margin for small businesses? Each employee in a small business drives the margin slower. One study found that 90% of all service and manufacturing businesses with more than $700,000 in gross sales are operating at under 10%marginswhen 15% to 20% is likely ideal.
21. How much do most small businesses make?
19% of small businesses in 2018 generated between $200,000 to $499,999 in annual sales
This includes sales made by full-time business owners only. In 2018:
- 9% made more than $1 million
- 4% made $500,000 to $1 million
- 3% made $150,000 to $199,999
- 14% made $100,000 to $149,999
- 3% made $75,000 to $99,999
- 11% made $50,000 to $74,999
- 12% made $25,000 to $49,999
- 9% made $10,000 to $24,999
- 16% made less than $10,000
Some interesting trends for 2019 from Guidant Financial
How do Small Businesses Get Their Money?
What are the Top Small Business Industries?
Why do Entrepreneurs Start Their Business Normally?
What age are people when they normally start their business?
Dow Jones – Last 10 Years, 2009-2019
What is the budget for Trump’s administration for 2019?
What is the projected annual inflation rate?
How does China Compare to the U.S. by GDP?
Where is the United States Money Supply At?
What is the national debt at?
What companies profit the most from war?
A Visual History of the Federal Reserve System
Thank you for reading “21 Crazy 2019 Financial Statistics & Graphs (Personal & Small Business)” – let us know if we can help your small businesses chance of succeeding no matter the economy with aggressive digital marketing strategies that get results!