Small businesses employ nearly half of the American workforce and represent 43.5% of America’s GDP. They are a critical part of our economic ecosystem where big businesses and small businesses are vendors, employees, partners, and customers to each other.
Small businesses fuel the economy.
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99.9%
of businesses in the U.S. are small businesses
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33.2M
Small businesses in the U.S.
Data from 2023 SBA Office of Advocacy FAQ on Small Business.
Since the late 1990’s, small businesses have accounted for between 43.5% and 50.7% of the United States’ gross domestic output (GDP), which equates to trillions of dollars of economic activity. In 2014, the most recent data available, small businesses generated nearly $5.9 trillion. By comparison, large businesses generated $7.7 trillion to the national GDP that same year.
