High School

Which of the following is correct regarding the importance of small businesses to the United States economy?

A. They employ about two-thirds of all private-sector employees.
B. They have generated 45 percent of net new jobs over the past 20 years.
C. They represent 99.9 percent of all employer firms.
D. They pay 60 percent of total U.S. private payroll.

Answer :

Small businesses are a critical component of the U.S. economy, as they create jobs, drive innovation, and stimulate economic growth.

All of the statements are correct regarding the importance of small businesses to the United States economy.

A) Small businesses employ about two-thirds of all private-sector employees.

B) Small businesses have generated 45 percent of net new jobs over the past 20 years.

C) Small businesses represent 99.9 percent of all employer firms.

D) Small businesses pay 60 percent of total U.S. private payroll.

Small businesses are a critical component of the U.S. economy, as they create jobs, drive innovation, and stimulate economic growth. They also contribute to the development of local communities and provide opportunities for entrepreneurship and upward mobility. Understanding the importance of small businesses is crucial for policymakers, investors, and consumers alike, as they can help support and promote their growth and success.

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