The Microbusiness Difference--A Closer Look!

A Division of Gardner Bank

www.smallbusinessbank.com

When it comes to the U.S. economy, size matters. Whether it's Big Business, Big Oil, or Big Banks, scale of operation is clearly a big deal.

As daily media coverage shows, it is the nation's major undertakings and enterprises that occupy the attentions of Washington and Wall Street. For all intents and purposes, it's the performance of the Fortune 500 companies that serves as a barometer for the rest of the economy and tells the rest of us how well or how poorly we are doing.

However, this focus on scale fails to take into account other parts of the economy, such as microbusinesses, which represent 92 percent of all U.S. businesses.

While, by definition, these businesses are small in scale, in the aggregate they are much more significant than most people realize. What's more, they have the potential to be even bigger and to provide the growth and jobs our economy so desperately needs.

It's time to give microbusinesses a closer look.

In 2011, microbusinesses directly accounted for approximately 26 million jobs in the economy. That's more than the total number of individuals employed in the government sector at the local, state and federal levels and more than twice as many who work in the Manufacturing. It is also more than total numbers in the Trade, Transportation and Utilities sector.

In our next two blog pieces--we'll talk about the various ways microbusinesses impact employment in our country.

 

 (The above from the Association For Enterprise Opportunity--The voice of Microbusiness).

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