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SBA: Small businesses power nation's economy

September 29, 2006

Virtually every American private employer is a small business, according to data released Thursday by the U.S. Small Business Administration.

In 2005, small businesses accounted for 99.7 percent of all employer businesses, according to an SBA statement. They employed 57.4 million workers, or 50.6 percent of the nonfarm private sector.

"Clearly small business is a major part of our economy," Thomas M. Sullivan, chief counsel for advocacy, said in the statement.



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