The Business Wealth Builders

CHAPTER 2

Global Economic Power:The Massive (unappreciated)Momentum of the SmallBusiness Entrepreneurs

Global Economic Significance: Driving52 Percent of the GDP in the Top 17 Economies

Small and medium businesses drive our economies and our standard of living. In the United States, they provide the majority of net new jobs annually. (Large corporations hire only about as many as they lose, because they tend to improve productivity through technology.)

There are over five million small and medium businesses (defined as having two to 500 employees) in the United States and just under one million in Canada (note: we excluded sole proprietors from our statistics). In the United States, small businesses account for 63 percent of the net new jobs ...