Small Business News – Why Small Businesses Are the Backbone of America

business news

The small business industry is the backbone of the American economy, but it receives less attention than it deserves. One of the more exciting findings of the American Business Administration’s (ABA) annual survey is that small businesses are the epitome of what keeps America going. In fact, it is not uncommon to see a small business funneling 68 percent of its sales into its community. As a result, the small business sector has become a model for other industries to emulate. ABA estimates that the number of small businesses has soared over the past decade. Smaller businesses are also better at attracting employees, making them an attractive target for acquisition. A study published in the Journal of Small Business found that smaller businesses are more likely to hire people from their local neighborhoods than larger enterprises.