This week, America is celebrating the annual National Small Business Week.
Highlighting the vital contribution of small businesses to the U.S. economy, President Donald Trump proclaimed that “small-business owners embody the American pioneering spirit and remind us that determination can turn aspiration into achievement.”
Indeed, small businesses are critical assets to the economy. Defined as firms employing fewer than 500 employees, they play a huge role in America’s $20 trillion economy.
There are nearly 30 million small businesses in the United States, employing about half of the private workforce, according to the Small Business Administration.