In the U.S., existing small businesses comprise 99% of all employer firms, employ nearly half of the workforce, and account for more than 60% of the private sector’s net new jobs.
A new report by Babson College, The State of Small Business in America, seeks to advance knowledge and ideas for fostering a vibrant entrepreneurial ecosystem that best supports ongoing small business growth and job creation in America.
See key takeaways from the report in the infographic below.
The respondent pool for this report consists of small businesses specifically identified as growth-oriented through participation in the Goldman Sachs 10,000 Small Businesses program, along with a comparative random sample of businesses by size and age criteria without any explicit growth identification. Read the full report.
As part of the firm’s ongoing support of small businesses, Goldman Sachs recently celebrated the twentieth graduating class of the 10,000 Small Businesses program at LaGuardia Community College in New York City. At the event, Goldman Sachs asked some of the business leaders in attendance to share their insights on business-building and how to further empower American entrepreneurship.
Learn how the Goldman Sachs 10,000 Small Businesses is helping entrepreneurs create jobs and economic opportunity by providing access to education, capital and business support services.
For more on trends shaping markets, industries and the global economy, subscribe to BRIEFINGS for weekly insights delivered to your inbox, check out the Exchanges at Goldman Sachs podcast on iTunes and Stitcher, or visit GoldmanSachs.com.