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The role of small business in employment: Evidence from the USA

Vol. 10, Iss. 3, MARCH 2017

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Received: 21 December 2016

Received in revised form: 26 December 2016

Accepted: 1 March 2017

Available online: 15 March 2017

Subject Heading: Economic policy

JEL Classification: J21, O51

Pages: 343-356

Petrovskaya N.E. Institute for USA and Canadian Studies of Russian Academy of Sciences, Moscow, Russian Federation

Importance The article reviews the significance of small businesses for creating and preserving jobs, and illustrates the USA where small businesses account for about a half of people employed in the private sector.
Objectives The research presents a comprehensive study into the role of small businesses in terms of job opportunities and preservation of the number of jobs.
Methods Drawing upon a systems approach, economic, statistical and logic methods, comparative analysis and initial sources, I reviewed what role small businesses played in employment in the USA.
Results I analyzed principal employment trends in small business during the global crisis and afterward. I found issues and difficulties employees of small businesses came across and specifics of the U.S. criteria used to classify any entity as a small business. The article evaluates the breakdown of employees of small businesses by industry and U.S. state.
Conclusions and Relevance Small businesses account for 49 percent of the employed in the U.S. private sector. There are some industries of the U.S. economy where small businesses prevail in terms of the number of jobs. Considering economic and social importance of small business, the USA provides comprehensive support to its development.

Keywords: small business, employees, global crisis, job number, employment


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