In 2019, the US Small Business Administration released a report showing that small businesses, those companies with fewer than 500 employees, in the United States produced 44% of all economic activity in the country. That same year, small businesses also provided 2/3rd of all employment within the US. After the pandemic in 2021, small businesses created 5.5 million jobs, making a huge impact on our overall economic recovery (Treece, 2023). Small businesses are a vital part of our economy and foster healthy competition for our market.
Saturday, November 25, 2023 is Small Business Saturday. Please support your local community small businesses!