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Small Business Continues to Drive U.S. Economy |
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Written by www.sba.gov/advo
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Of the 99.7% Small Businesses,
More Than Half are Home-Based
Small business continues to drive the United States economy, according to a report recently issued by the Office of Advocacy of the U.S. Small Business Administration.
Newly released data shows that in 2005, small businesses represented 99.7 percent of all the nation's employer businesses. Data also shows that they employed 57.4 million Americans or 50.6 percent of the non-farm private sector workforce. Past data from the SBA shows that home-based businesses account for 53 percent of all small businesses.
"Clearly small business is a major part of our economy," says Thomas M. Sullivan, Chief Counsel for Advocacy. "Small businesses innovate and create new jobs at a faster rate than their larger competitors. They are nimble, creative, and a vital part of every community across the country." HBM
Previously published in the February 2007 issue of HOME BUSINESS® Magazine, an international publication for the growing and dynamic home-based market. Available on newsstands, in bookstores and chain stores, and via subscriptions ($15.00 for 1 year, six issues). Visit www.homebusinessmag.com
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