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in Small Firms 50% 77% 45% 76% 26% 45% 79% 74% 59% 45% . Business Population N e w F irms Ta ke O ve r s Q uits N e t Tota l1990 769 146 844 5,3631991 726 138 821 5,6791992 737 138 818 5,7351993 780 136 801 5,8501994 807 137 802 5,991000’s of Firms Source: SBA, 1994 Number of . Firms by Size Employ e e s pe rF irmNu mbe r ofF irms% of A llF irmsRev e nue s pe rF irm*Tota l, All F irms 5,051 ,025 100% $1,80 2L e ss tha n 20 4,528 ,899 % $38420 99 439,8 11 % $3,59 9100 499 68,33 8 % $17,4 50500+ 13,97 7 .03% $327 ,940Source: IRS, 1994 The Average . Millionaire A 57YearOld Married Man with 3 Children SelfEmployed: Farmer, Service Firm or Construction Median Household Ine of $131,000 Mean Household Net Worth of $ Million Owns a Home Valued at $320,000 First Generation Wealthy Drives an Older Automobile Attended Public Schools Sends Children to Private Schools Three Phases of Ownership 1. Startup Bee a Going Concern 2. Get on Desired Growth Track Limited, Rap