WASHINGTON, D.C. -- Small business continues to be Missouri's employer, according to a new report issued by the Office of Advocacy of the U.S. Small Business Administration (SBA). The most recent data show that over 98 percent of the state's employers are small businesses and that they employ close to half of the private workforce.
"Strong small businesses are vital to the health of Missouri's economy," said Thomas Sullivan, chief counsel for advocacy. "It's no wonder that Missourians look to Main Street to provide jobs and community support, especially during uncertain economic times."
Small business dominates several sectors of Missouri's economy. For example, in construction 99.3 percent of firms are small, while 98.2 percent of businesses in professional, scientific and technical services are small, as well as 98 percent of the firms engaged in health care and social assistance.
The report, "2002 State Small Business Profiles" also demonstrates how women and minority-owned small businesses contribute to the state's economy. The latest figures show that women own 25.2 percent of Missouri's firms and minorities own 6.5 percent.
The complete report, which presents a small business profile of each state, is available from the Office of Advocacy's Web site at www.sba.gov/advo.