Small businesses still creating most new jobs
It is so easy to think only of the important industrial giants when we look at our national economy.
The big businesses are tremendously important in our economy but too often we consumers let them crowd out our appreciation for the millions of small businesses.
Once upon a time small businesses were only the “Mom and Pop” shops that are still very important today. However, in recent years the term small business includes those with 49 or fewer employees.
Over the years, some have challenged the fact that these 28 million small businesses, the backbone of the U.S. economy, create a big share of the new jobs in America.
Data released this past week by Automatic Data Processing, Inc. shows that of the 216,000 new jobs created in February, 108,000 or more than half were created by businesses with 49 or fewer employees. The 88,000 new jobs created by firms with 50-499 employees brings the total of new jobs from small businesses for February to 90 percent.
John Arensmeyer, CEO of the Small Business Majority, is confident that small businesses can and will pull the economy out of the doldrums. The Small Business Majority is a national nonpartisan small business advocacy organization focused on creating smart small business-friendly policies. Currently the national issue is shoring up credit for small employers to keep the momentum going.
It has often appeared that a major problem facing every Congress is to establish regulations that apply equally and fairly to both large and small businesses. It is like trying to make one size shoe fit all, and for the ones it doesn’t fit there is at least a burden of electronic paper work with which to deal.