NEWSRELEASE
For Release: August 23, 2002
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America’s Employers Are Small Businesses New Report Shows
Ninety-Nine Percent Of All Employers Are Small Businesses
WASHINGTON, D.C. - Small business continues to be the nation’s employer, according to a new report issued by the Office of Advocacy of the U.S. Small Business Administration (SBA). The most recent data show that over 99% of the country’s employers are small businesses and that they employ more than half of the private workforce.
“Strong small businesses are vital to the health of the United States economy,” said Thomas M. Sullivan, Chief Counsel for Advocacy. “It’s no wonder that Americans look to Main Street to provide jobs and community support, especially during uncertain economic times,” he continued.
Small business dominates several sectors of the American economy. For example, in construction 99.9% of firms are small, while 99.6% of businesses in professional, scientific and technical services are small, as well as 99.3% of the firms engaged in health care and social assistance.
The report, “2002 State Small Business Profiles” also demonstrates how women and minority-owned small businesses contribute to America’s economy. The latest figures show that women own 26% of the nation’s firms and minorities own 15%.
The complete report, which presents a small business profile of each state, is available from the Office of Advocacy web site at <http://www.sba.gov/advo>.
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Created by Congress in 1976, the Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The Chief Counsel for Advocacy, who is appointed by the President and confirmed by the U.S. Senate, directs the office. The Chief Counsel advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers. Issues are identified through economic research, policy analyses, and small business outreach. The Chief Counsel’s efforts are supported by offices in Washington, D.C., and by Regional Advocates. For more information on the Office of Advocacy, visit http://www.sba.gov/advo, or call (202) 205-6533.