According to Facebook’s second annual “Small Business Impact Report,” the company has helped more than 1.8 million small and medium-sized businesses (SMBs) in the U.S. generate more than $160 billion in 2018. These companies had an average of $90,000 in annual Amazon sales.
SMBs sold an average of 4,000 items per minute in Amazon’s stores. The number of SMBs with more than $1 million sales increased by 20% in 2018. The company also granted a total of $1 billion to help SMB build inventory.
Authors earned more than $250 million from Kindle Direct Publishing, Amazon’s self-book publishing unit. More than a thousand authors received royalties of more than $100,000 and thousands earned more than $50,000.
Some entrepreneurs also earned by delivering packages. Amazon said that a small business with a fleet of up to 40 vehicles can earn as much as $300,000 in annual profit.
Some of the fastest growing states in terms of Amazon sales include Mississippi, Nebraska and Maine. Amazon’s Worldwide Consumer Division CEO Jeff Wilke said they are inspired by the inventiveness of entrepreneurs and they invested tens of billions of dollars their AI research, data centers, delivery network and robotics to help SMBs grow.