The Importance of Small Business

What percentage of all U.S. businesses do small businesses represent according to the U.S. Small Business Administration (SBA)?

• 99.9%

• 75.5%

• 50.2%

• 25.1%

How many employees or less are typically found in a small business?

• 1000

• 500

• 750

• 250

How many jobs did small businesses create in 2015?

• 3.5 million

• 2.1 million

• 1.9 million

• 1.2 million

Which category of small businesses added over half of the new jobs in 2015?

• Those with 500 employees or more

• Those with 100-200 employees

• Those with 100-500 employees

• Those with 20 employees or less

Why do small businesses help stimulate economic growth according to the text?

• By paying lower taxes

• By providing employment opportunities

• By excluding local workers

• By avoiding innovation

Small businesses attract talent who tend to:

• Follow trends

• Invent new products

• Avoid innovation

• Rely on larger corporations

Why can small businesses respond quickly to changing economic climates?

• Due to being less customer-oriented

• Due to having excessive revenue

• Due to being large scale

• Due to being very customer-oriented

How do small businesses strengthen local economies during tough times?

• By accumulating more revenue

• By reducing the number of employees

• By closing down

• By staying afloat and understanding community needs

What happens when consumers patronize local small businesses in relation to taxes?

• They pay lower taxes

• They pay higher taxes

• They avoid paying taxes

• They pay taxes to the federal government

Thriving local businesses generate revenue that contributes to:

• Schools

• Corporations

• International funds

• Religious organizations