Aug. 25, 2004: Small Business Leads The Way In Job Gains
WASHINGTON - Conditions favorable for entrepreneurship in 2003 laid the foundation for the job gains of 2004, according to a new report issued by the Office of Advocacy of the U.S. Small Business Administration (SBA). Small Business Economic Indicators for 2003 notes that "important economic indicators advanced throughout the year" so that "the outlook for future small business expansion was positive at the end of 2003."
"Small business plays a key role in our economy," said Thomas M. Sullivan, chief counsel for advocacy. "Entrepreneurs launch new ideas and they propel our economy's evolution. This dynamic risk-taking results in 60 to 80 percent of the net new jobs, so when economic conditions are favorable for growth, job gains are not far behind. That is exactly what has happened."