GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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less than 10 percent
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about a quarter
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more than half
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about 75 percent
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Detailed explanation-1: -The nearly twenty-seven million small businesses in the United States generate about 50 percent of our GDP.
Detailed explanation-2: -Small businesses create two-thirds of new jobs and deliver 43.5 percent of the United States’ gross domestic product (GDP). In addition to keeping the economy running, small businesses also lead the way in innovation. Small businesses produce 16 times more new patents per employee than large patenting firms do.
Detailed explanation-3: -According to the U.S. Small Business Administration, small businesses create over 66% of net new jobs. A recent report also shows that small businesses account for 44% of total U.S. economic activity.
Detailed explanation-4: -How Many Small Businesses Are There in the US? 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.