Small Businesses Lead U.S. Growth

Report Documents Small Firms’ Significant Economic Impacts in 2006

WASHINGTON, D.C. – Small businesses continued to lead growth in the U.S. economy in 2006, according to a report issued last week by the Office of Advocacy of the U.S. Small Business Administration. The report "shows that overall, small firms continue to drive a resilient U.S. economy," said Advocacy Chief Economist Chad Moutray. "In releasing this annual small business research report, we are pleased also to showcase new research by economists in the field of small business and entrepreneurship." Moutray released the report at a December 19 meeting of the Rotary Club of Washington, DC. The study, The Small Business Economy: A Report to the President for 2007(PDF) is the Office of Advocacy’s annual report on the state of small business in America.

The report reviews the economic environment for small businesses in the year 2006, including the financial and federal procurement marketplaces. New research focuses on minority- and veteran-owned businesses, social entrepreneurship, and pre-venture planning. Other chapters and appendices provide data on small business and an update on Office of Advocacy initiatives. The Office of Advocacy, the "small business watchdog" of the federal government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats, and it funds research into small business issues.

For more information and a complete copy of the report, visit the Office of Advocacy website. Print copies are also available upon request to the Office of Advocacy (202) 205-6933.