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How many companies are there in the US which employ more than 10 people, and have more than $5M in revenue?
Hello! Thank you for your question about the number of companies in the United States that employ more than 10 people and have revenues over $5 million. The short answer is that there are 7,518 companies that fit these criteria, however the only accurate data available to answer this question comes from US economic census data collected in 2012. A more up-to-date tally will not be available until the next economic census of 2017 is published later this year or early next. Please see below for a deep dive of this research.
METHODOLOGY
Total number of businesses and employee sizes in the United States comes mainly from the government's census data from the 2012 economic census. Economic censuses occur every 5 years, and the 2017 collection is still underway. Reports from various industry journals and companies all cite the census data as their source. As such, to find the most accurate information for this research, and unable to find other publicly available sources that have more recent totals, the US census data was used despite the time-lapse.
From the census data, the number of companies in the country with greater than 10 employees was found to be 8,405,462. To determine how many of this total make more than $5 million in revenue, I looked for tabulations of revenue data and found that while 327,589 companies reach this number, more than 1.6 million other companies have no revenue data reported in this manner. As such, I turned to gross receipt information collected by the census as the receipts record "the total business revenue from services provided that must be reported for the fiscal period." The gross receipt data also includes IRS data to cover any holes in the economic census data.
From the raw census data that records company size, payroll, receipt, NAIC reference numbers and more, I refined the total number by those with more than ten employees, then by discarding companies with gross receipt data less than $5 million. This gave the total number of companies with more than 10 employees and gross receipts of $5 million per year as 7,518.
Please note that since the spreadsheet file is so large (7,518 rows), Google Sheets had an error in uploading it to a full spreadsheet. However, the spreadsheet can be seen at this link in the drive and then downloaded or viewed it as a PDF.
CONCLUSIONS
There are 7,518 companies in the United States as of 2012 which have more than 10 employees and earn more than $5 million per year. More timely data will not be available until the next census data is analyzed in 2018.
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