GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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By far the greatest percentage of businesses in the U.S. is small businesses.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -The latest statistics show that there are 33.2 million small businesses in the US, which account for 99.9 percent of all US businesses (SBA, 2022). The Small Business Administration (SBA) defines a small business as a firm that has fewer than 500 employees.
Detailed explanation-2: -Note: A small business in this chart is defined as a business with fewer than 500 employees. Over 99 percent of America’s 28.7 million firms are small businesses. The vast majority (88 percent) of employer firms have fewer than 20 employees, and nearly 40 percent of all enterprises have under $100k in revenue.
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