It is both an honor and a pleasure. I have long been active in the small business community. I have held leadership positions in several national organizations, including the National Family Business Council, the National Small Business Association and National Small Business United. I have served on several small business advisory councils including the Executive Committee of the National Advisory Council to the Small Business Administration. I also participated in all three White House Conferences on Small Business.
Small businesses are the backbone of our booming economy.
They represent over 99 percent of all employers, employ 52 percent of private workers, provide the overwhelming majority of all new jobs, and account for 51 percent of private sector output. The small business sector also provides unprecedented opportunities to women and minorities. In recent years, members of both of these groups have been starting their own businesses at an accelerating rate. During that same period, the revenue generated by minority-owned businesses grew an astounding 343 percent. Internet spawned small business start-ups are enormous and are not a part of these statistics.