| Everyone agrees on a broad level that
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| | making gains in the technology sector.
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| small businesses are vital to the
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| | 41% of high tech workers like engineers,
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| American economy. However, most people
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| | scientists and computer programmers are
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| would be surprised to know just how
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| | employed by small businesses. Employees
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| important. The United States Small
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| | at small businesses produce 13 to 14
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| Business Administration keeps records and
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| | times more patents than those employed by
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| statistics on small business in the
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| | larger companies.
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| United States and some of their findings
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| | The Small Business Administration also
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| are surprising.
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| | offers some interesting observations on
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| First, the typical perception of a small
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| | small business survival. Two-thirds of
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| business as a mom and pop operation with
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| | small businesses survive for at least two
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| just a few, if any, employees is not the
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| | years declining to 44% after four years.
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| entire picture. The Small Business
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| | Most of the factors that support a small
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| Administration defines a small business
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| | business surviving are well known, such
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| as an independently business with less
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| | as access to capital and owner's
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| than 500 employees. There are an
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| | education level. However, a lesser known
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| estimated 23 million businesses in the
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| | factor in small business survival is that
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| United States that meet that
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| | the business is large enough to have
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| classification. In some smaller towns in
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| | employees.
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| the United States, these businesses
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| | Similarly, barriers to starting a small
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| represent a major source of employment.
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| | business include lack of access to
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| In fact, small businesses as defined by
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| | start-up capital and lack of education.
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| the Small Business Administration
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| | However, the number one barrier to small
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| represent 99.7 percent of all the
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| | business start up and a primary concern
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| employers in the country and employ half
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| | of existing small business owners is
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| of all private sector employees. More
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| | access to private health insurance.
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| than 45% of the private sector payroll is
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| | Individual health insurance for sole
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| generated by small business. Over the
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| | proprietors is much more expensive than
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| last decade small businesses have
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| | receiving coverage through an employer.
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| accounted for 60 to 80% of all new jobs
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| | If a small business owner is able to
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| created on an annual basis.
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| | offer health insurance to its employees,
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| Although a large percentage of small
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| | the administrative and premium costs are
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| businesses are in the retail and service
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| | often much higher than those for larger
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| sectors, small businesses are rapidly
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| | businesses.
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