According to a report by the U.S Small Business Administration, small businesses make up 44% of the economic activity in the country , thereby making significant contributions in making the state the world’s largest economy by GDP, accounting for $21.43 trillion out of the total world’s GDP of $88 trillion.
The booming economic environment is made possible with the help of the U.S government that takes different measures to ensure that small businesses get the opportunity to thrive, even when times get tough. The government has formed the SBA – Small Business Administration specifically for the purpose of helping small business owners.