Entrepreneurship and economy
Private sector made of SMBs is a basis of the open market economy. Not only it contributes to GDP and creates working places, it also creates the unique atmosphere of competitiveness and initiative in the society. Entrepreneurship and private initiative are the key drivers that moving western economy nowadays.
A total number of entrepreneurs in the US exceeds 27m now.
– 14% of the working population.
– 46% of private sector GDP.
This way we can see that for healthy economy private sector constructed of entrepreneurs is a critical component of the economy. Equally important as big enterprises.
Not all of them survive for long time unfortunately