Question

What makes small businesses so important to the American economy?

Answer 1

As per United States Small business administration, there are around 27 Miln small businesses in the country which will provide for 50% of Gross Domestic Product (GDP). Job creation and self-employment is more in small business as well, like small businesses will provide for 64% of new jobs and 44% of total United States private payroll. Small businesses do provide for many of the components needed by big companies in number of ways. These small businesses will also act as sale agents for selling the products of large companies.