The Importance of Small Business and Jobs

The Importance of Small Business and Jobs

The importance small businesses for both job creation and job loss in our economy is highlighted in a new study from the SBA Office of Advocacy.  Through much of the 1990s and and into the 2000s, small businesses accounted for 65% of new jobs created in the economy. But since the recession took hold, small business has accounted for 60% of job losses.Over the 15-year period from 1993 to 2008, small businesses created some 65 percent of the net new jobs in the private sector, according to conservative estimates cited in a new report from the SBA Office of Advocacy. Advocacy economist Brian Headd notes that many of the new jobs were in new business startups, but an even larger share were in expanding firms of all sizes--particularly mid-sized firms with 20-499 employees."More and more, we're finding that both new startups and ongoing high-growth firms have important roles to play in the labor market," said Acting Chief Counsel...
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