Entrepreneurship, Education, and Ethics » Economics http://www.gregwatson.com Thu, 21 Jan 2010 20:23:06 +0000 en hourly 1 http://wordpress.org/?v=3.0 US Entrepreneurship is the Third Largest Global Economy http://www.gregwatson.com/us-entrepreneurship-is-the-third-largest-global-economy/ http://www.gregwatson.com/us-entrepreneurship-is-the-third-largest-global-economy/#comments Sun, 13 Jan 2008 05:29:36 +0000 Greg Watson http://www.gregwatson.com/us-entrepreneurship-is-the-third-largest-global-economy/ US Entrepreneurship and small business represent the third largest global economy.  Today, small businesses with 500 or fewer employees employ more than 50% of the all employees and produce approximately one-half of the total private non-farm GDP.

If we were to compare the size of the small business economy with the rest of the world, the US entrepreneurship and small business economy would rank third in the world behind the US medium and large business economy and Japan.

The size of the US small business economy would rank ahead of Germany, the United Kingdom, France, and Italy.

Entrepreneurship and small business represents the best of the driving forces that have sustained the US economy, jobs, and wealth preservation while other segments of the economy have struggled with outsourcing, commodity inflation, and international competition.

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