Small Business Week 2024: How Small Businesses Impact Our Economy
Written by Adam Grundy
Every year since 1963, U.S. presidents have issued a Small Business Week proclamation to recognize the contributions of entrepreneurs and small business owners.
The theme of Small Business Week 2024, which runs from April 28 – May 4, is “Building on the Small Business Boom.”
A small business is one with fewer than 500 employees, according to the Small Business Administration. The Census Bureau’s Business Dynamics Statistics indicate there were 5,358,600 such firms in 2021, up from 5,322,155 in 2020.
According to County Business Patterns, 56.6% of all U.S. employer establishments in 2021 (the latest year for which these statistics are available) had fewer than five employees, up from 55% in 2020.
Continue reading to learn more about:
- Nonemployer businesses
- Women-owned businesses
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