Behold The Power Of Small Businesses
February 21, 2002
- Government data show that three out of every four net new jobs are in small businesses.
- Small firms represent 99.7 percent of all employers -- and they employ 53 percent of the private work force.
- They are responsible for 47 percent of all sales in the nation -- and are responsible for 51 percent of private sector output.
- Small businesses are responsible for 55 percent of innovations -- and represent 96 percent of all U.S. exporters.
Specifically, his plan would grant four years of tax relief to any American who started up a business in the next three years. In the first two years, the business would be tax free. In the next two years, the tax would be half the corporate rate.
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