ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They serve only their local communities.
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They are owned by one person.
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They may become a big business.
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They are important to the economy.
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Detailed explanation-1: -The first way small businesses impact the economy is through job creation. While this might seem obvious, it is incredibly important. According to the SBA, small businesses created a net 12.9 million new jobs in the last 25 years, which accounts for roughly 66% of all jobs created in that span.
Detailed explanation-2: -They create job opportunities. They get more money circulating in the local economy. They keep taxes close to home. They build community identity. They’re involved with the community. They innovate and diversify the local marketplace. They’re better for the environment. Conclusion. 11-Sept-2020
Detailed explanation-3: -Economic Contributions. A small business is defined as any company with fewer than 500 employees. Economic Growth. Small business brings a great deal of innovation to any field. Adaptability. Keeping Money Local. Future Growth.