Small & medium businesses are the backbone of the U.S. economy.
Did you know that:
There are 36.2 million small businesses â 99.9% of all businesses in the country.
They employ 62.3 million people â 45.9% of the private-sector workforce.
SMBs generate 43.5% of GDP and 35% of private-sector receipts.
Small businesses have created the large majority of net new jobs over the past few decades.
61% of all net new jobs since 1995.
20.7 million net new jobs vs. 13.2 million from large businesses.
In many recent periods they have accounted for 80â90% of net job growth.
The local impact is even stronger: money spent at small businesses recirculates more in the community than spending at large chains.
And for millions of Americans, starting or owning a business remains one of the most powerful and accessible pathways to economic mobility â building wealth, independence, and opportunity.
It's important to protect that pathway đ
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