How important are small businesses to the economy of the United States? Consider these figures from the U.S. Small Business Administration: not only do they represent 99.7 percent of all employer firms, they employ half of all private sector employees, pay 44 percent of the total U.S. private payroll, and have generated 65 percent of new jobs within the past two decades.
Small business enterprises will also undoubtedly be a focus during this year’s election. President Obama and former Massachusetts Governor Mitt Romney have recently come on the record regarding tax proposals for small businesses, which form the backbone of middle class America.
Chris Andrasick, CEO of Tacit Knowledge, talks about his role in leading a small business start-up in San Francisco. Andrasick says that talent, knowledge and access to the best resources available plays a key role in creating a successful, long-term strategy for his business.