Small Businesses Drive Major Economic Growth Across U.S. Regions

Small businesses play a critical role in the U.S. and Texas economies by driving job creation, fostering innovation, and supporting local communities. They account for about 44 percent of U.S. economic activity and create two-thirds of net new jobs annually, with many emphasizing long-term growth and personalized customer service (Article 1). Texas recently celebrated Small Business Week and enacted legislation to reduce regulatory burdens and increase property tax exemptions to foster a more business-friendly environment (Article 2). In local communities like Lowndes County, small businesses retain a significant portion of consumer spending within the area, boosting local employment and economic resilience (Article 3). Meanwhile, emerging technologies such as AI are becoming essential tools for small businesses, improving efficiency, customer service, and competitive advantage (Article 4). Initiatives like Goldman Sachs’ 10,000 Small Businesses provide education, capital, and networks to help entrepreneurs strategically grow their companies and contribute to economic health (Article 5).