Role of small Business in US Economy

In any company if there are less than 100 employees that is known as small Business, and it drives the economy. In the United States half of the people work in small Business only, whereas many people think that new industrial policies are very important to drive the economy, but small business firms are working very well, without these small business firms where the half of the work force is is going to be. These small businesses are have been stabilizing in the US economy. It supports the economy and over 60% of the employees are placed in Small Business only. It is proven fact that small business play’s very vital role in the US economy.

Small business also holds patents 10 times better than larger business. Half of Home based businesses are Small Business only. The Small Business Association helps the Small Businesses in America to stay in business, they also get educational training when they needed, and also they do get financial assistance from the Small Business Association. The Small Business Association collects the data from various small Businesses and reports it to the United States government.

But these days due to lack of assistance from the United States government, small business are have been going too rap up. The United States should learn something from its European neighbors by lowering the tax rate of self-regulating small businesses. Nowadays the financial assist is difficult to obtain in the States as well, making it harder for American entrepreneurs to feel the same as they used to about small business.