Reading the news, you might think that large companies are the only companies operating in the United States. But that’s not the case. Start-up and small businesses rarely get the credit they deserve, but they are the engine that drives the national economy due to their enormous power to create and maintain jobs. Here are some facts to help put small business in perspective.
Unless noted otherwise, all information cited is from the U.S. Small Business Administration’s (SBA’s) advocacy website.
What Is a Small Business?
The SBA defines a small business as any for-profit organization with fewer than 500 employees. There are small businesses in every industry sector. The majority of small businesses are self-employed individuals; these firms are classified as nonemployers as they have no other paid employees.