Small businesses make up 99 percent of employers

Small business continues to be the nation's employer, according to a new report issued by the Office of Advocacy of the U.S. Small Business Administration.

The most recent data show that more than 99 percent of the country's employers are small businesses and that they employ more than half of the private work force.

"Strong small businesses are vital to the health of the United States economy," said Thomas M. Sullivan, chief counsel for the Office of Advocacy.

"It's no wonder that Americans look to Main Street to provide jobs and community support, especially during uncertain economic times."

Small business dominates several sectors of the American economy. For example, in construction, 99.9 percent of firms are small, while 99.6 percent of businesses in professional, scientific and technical services are small, as well as 99.3 percent of the firms engaged in health care and social assistance.

The report, "2002 State Small Business Profiles," also demonstrates how women- and minority-owned small businesses contribute to America's economy. The latest figures show that women own 26 percent of the nation's firms and minorities own 15 percent.

The complete report, which presents a small business profile of each state, is available from the Office of Advocacy Web site at www.sba.gov/advo.