ENTREPRENEURSHIP

Detailed explanation-1: -Based on data from the U.S. Census Bureau, there were 6.1 million employer firms in the United States in 2019 (latest data). Firms with fewer than 500 employees accounted for 99.7% of those businesses. Firms with fewer than 100 employees accounted for 98.1%. Firms with fewer than 20 employees made up 89.0%.

Detailed explanation-2: -Even though the majority of small businesses have no employees, they still employ 61.2 million people across the country.

Detailed explanation-3: -The Majority of U.S. Businesses Have Fewer Than Five Employees. Small businesses are often hailed as a vital segment of our national and local economies and a primary driver of U.S. financial growth.