Open Letter to Martha Stewart from American Small Business League President Lloyd Chapman
PETALUMA, Calif. - (BUSINESS WIRE) - The following is a statement by American Small Business League President Lloyd Chapman:
I saw you on CNN Monday night, and I was thrilled to hear what you had to say about small businesses. I agree completely with what you said-" we must look to small businesses." We need more people like you in America backing small businesses.
I'm sure you know that, according to the U.S. Census Bureau, small businesses are responsible for more than 90 percent of all net new jobs in America. The Kauffman Foundation did a study that found small businesses have created virtually 100 percent of all net new jobs since 1980. We also know that small businesses employ more than half the private sector workforce, produce half of the gross domestic product, more than 90 percent of U.S. exporters are small businesses, and 98 percent of U.S. companies have less than 100 employees. Small businesses are clearly the engine of economic growth in America.
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