What is the size, scope and economic contribution of small business?
Vital role in American economy, generating about half of the U.S. gross domestic product and accounting for 65% of all new jobs over past 17 years. In addition to employment growth, small businesses contribute innovations to the economy at a much higher rate than their big business counterparts, form the backbone of many inner-city economies by finding opportunities (and offering products and services) in places where most large firms opt not to operate. Entrepreneurship rate varies around the world dramatically based on national per capita income.