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Home About Us B2B Club Breaking News Contact Donate Events / Programs Feedback Ideas Incubator Industry Clusters Links / Resources Progess Funds Progress Teams Public Art / Murals Publications		Breaking News September 28, 2006 - Small Business Drives The U.S. Economy … Represent 99.7% of All Businesses, Employ 57.4 Million By: John McDowell, SBA WASHINGTON, D.C. – Small business continues to drive the United States economy, according to a report issued today by the Office of Advocacy of the U.S. Small Business Administration. Newly released data show that in 2005, small businesses represented 99.7 percent of all the nation’s employer businesses. Data also show that they employed 57.4 million Americans or 50.6 percent of the non-farm private sector workforce. “Clearly small business is a major part of our economy,” said 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. This report will help remind policymakers and others of the important role small business plays in the nation.” The Small Business Profiles for the States and Territories uses the latest federal government statistics to detail small business’ contribution to the economy of the states, District of Columbia, the nation, Puerto Rico, and the U.S. territories. Small Business Profiles for the States and Territories from 2002 to present may be found at www.sba.gov/advo/research/profiles/. Citing a variety of sources, data is updated annually that documents the number and type of businesses, ownership demographics including minority and women-owned statistics, employment and financing data, and other business information. The Office of Advocacy, the “small business watchdog” of the federal government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats and it funds research into small business issues. For more information, visit the Office of Advocacy website at www.sba.gov/advo.
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