Firms of all other sizes lost employment during that period. Almost all businesses are small businesses. There are approximately five and one half million employers in the United States. Small business as a whole employs more than half of the private sector workforce. Most small firms are not set up as C corps, but as proprietorships, partnerships, and subchapter S corporations.
Small business holds out to our citizens' great hope.
Small business offers a road map to the American dream that allows any American with a good idea and talent to follow it to economic freedom and security by starting their own business and working hard to make it a success. And possibly the ultimate American dream is to be able to pass that successful business on to one's children. Evidence indicates that the vast majority of America's small closely-held businesses are family businesses. Family businesses are generally much smaller than publicly-traded corporations, but possess certain advantages over these larger businesses. Additionally, family businesses operate without a rigid bureaucracy, consequently, they can respond quickly and intuitively to changes in business environments.