The efforts of men and women who operate small businesses are vital to the Nation's economic growth. As documented in the attached Report, small businesses have performed relatively well during the recent recession. As the economy continues to recover, small business has a vital role to play. My Administration's economic program will enhance the ability of small business to meet these challenges.
Small businesses can make several important contributions to economic recovery.
About forty percent of private sector employment is in small, independently-owned businesses. We need to recognize the small business role in our economy, particularly in job creation. This is especially important in light of current high levels of unemployment. Small businesses are important sources of product and process innovations. Small business efforts provide needed flexibility for our economy to meet foreign competition and changing economic realities.