Mobilizing this economic and political powerhouse on behalf of environmental protection.
One-half of the nation’s economy is amazingly decentralized, diverse and dynamic. This half consists of small businesses, 27 million of them, located in every nook and cranny of society, and engaged in everything under the sun, from hotdog stands to high-tech start-ups.
These small businesses produce 51 percent of the private sector output, make 47 percent of all sales, and employ more than half the country’s private work force. If U.S. small businesses were a separate economy, they would constitute the world’s third largest, trailing only the United States as a whole and Japan.
In key ways, small business also constitutes the economy’s most productive and creative half. Virtually all net new jobs, for instance, are created by fast-growing small businesses. And two-thirds of all innovations are produced by small businesses. Entrepreneurial small firms actually produce five times as many patents per dollar as large companies and 20 times as many as universities.
Politically, small business is also a powerhouse, wielding massive clout in Washington, DC, and in state capitals. Ninety-five percent of this constituency is registered to vote; eighty-four percent usually do.