Small & medium businesses are the backbone of the U.S. economy. Did you know that: There are 36.2 million small businesses — 99.9% of all businesses in the country. They employ 62.3 million people — 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 80–90% 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 — building wealth, independence, and opportunity. It's important to protect that pathway 🍊 Sources & learn more: