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More Small Businesses Shape Backbone of Nation's Economy, Bush Touts

WASHINGTON - Speaking at the National Small Business Summit of the National Federation of Independent Business (NFIB) here recently, President. Bush outlined a number of facts about small businesses: * Small businesses create seven out of 10 new jobs in America and account for more than half of the output...

By Staff Writer | Updated on July 20, 2004

WASHINGTON – Speaking at the National Small Business Summit of the National Federation of Independent Business (NFIB) here recently, President. Bush outlined a number of facts about small businesses: * Small businesses create seven out of 10 new jobs in America and account for more than half of the output of the nation’s economy; * There are nearly 8 million small businesses in the United States and they employ just over half of all workers; * Small businesses owned by women are growing at more than twice the rate of businesses owned by men; * America is the world’s largest exporter. Small and medium sized companies make up 97% of all exporters;

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