Small Business- Exactly How Much Revenue Do they Contribute?
The economy of the United States is largely supported by the revenue raised through the operations of small businesses. Statistics have it that about 10 years ago, small ventures constituted 99% of all employers and accounted for 51% of the national income. Small businesses provide new employment for people every year. Between 1994 and 1998, the sector was seen to create 11.1 million jobs for the youth, the older workers and women in particular.
For this reason the government in America tends not to rubbish the input that these ventures have on the growth and sustainability of the economy and instead give support to entrepreneurs, so that they grow even further. In addition, it is now looking out for people living with disabilities, as they have been found to be very interested in running their own enterprises, no matter how small. In fact, people with disabilities have beaten the record of the self-employed citizens.
There is even an association that has been put in place to look into the issues of the people with disabilities. The association is known as The Disabled Businessmans Association and it estimates that 40% of home based enterprises are operated by these people. They have been found to do accounting services, air conditioner repairs, counseling services, farming, real estate office among many others.
The SBA, which is an agency set up by the government to take care of the issues facing the enterprises, has established specific definitions that relate to the small enterprises. It defines a small enterprise as one that has less than 500 employees. It goes to the extent of financing the enterprises so that they can start off. It also gives advice to the enterprises on how to run and manage their operations.
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