It’s National Small Business Week (April 29-May 5). Here’s why small business deserves a big salute.
- Most business is small business. In fact, 99.9 percent of American companies have fewer than 500 employees . Three out of four are microbusinesses (with one to nine employees).
- Small businesses create jobs. Work in the private sector? There’s almost a 50-50 chance you work at a small business. Looking for a job? You’re more apt to find one at a small business. Nearly two-thirds of all net new jobs are with small businesses.
- Small businesses contribute to our communities. They are stores, restaurants, insurance agencies, dental practices, and so much more. Small businesses provide the products and services we need.
- Small business reflects America’s diversity. Owners come from just about every possible demographic group. They’re men, women, people of all races and nationalities, veterans, teenagers and retirees. Their businesses contribute to the economy of every state, county, city and town.
- Small businesses are America’s incubators of ingenuity. Almost all our high-tech firms and “high patenting” industries are small businesses. The innovations of tomorrow are being created by small business today.
Small business really is a very big deal!
Want to know more? Check out Frequently Asked Questions About Small Business from the U.S. Small Business Administration’s Office of Advocacy.