With unemployment rates stubbornly over 9%, U.S. employment is topmost on practically everyone’s mind. Generally, the American economy is barely adding more jobs than is needed simply to keep pace with normal labor force growth.
Small business is an important element in any employment growth. According the federal government (as compiled by the Small Business Administration), small business:
- Generated 64 percent of net new jobs over the past 15 years
- Represent 99.7 percent of all employer firms
- Employ over half of all private sector employees, and create more than half of the nonfarm private gross domestic product (GDP)
A July 2011 nationwide survey by Harris Polls provides an amazingly clear perspective on employment in the small business segment and what needs to change. Within the small business segment, politicians (and voters) need no longer wonder what is occurring. This article provides a summary of the survey and its results.