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It is the tradition of this country to encourage individuals to become entrepreneur. Few government controls, for example, prevent a person from launching a new business. Almost anyone who wishes to do so may start a business. As a result, many new businesses spring up yearly in shopping malls and along highways and byways.
Small business is the term applied to any business that is operated by one or a few individuals. Because it is normally costly to start a manufacturing business, few small firms produce goods. Most small businesses are commonly found in service and retail trade fields that usually employ fewer than 100 people. Nearly 98 percent of all businesses in the country are classified as small. However, over half the total number of workers in this country are employed by businesses with fewer than 500 employees. In addition, the revenue generated from all small businesses accounts for about half of the GDP.
In recent years, when many large firms were laying off thousands of workers, small businesses with less than 20 employees were hiring in large numbers. Often, the new entrepreneurs were highly skilled managers who were displaced by large firms that were downsizing. Small firms, on the other hand, were reported to be hiring twice as many applicants as the number of employees laid off by large firms. In addition, many of these small firms were adding more high-paying jobs than low-paying jobs.
Many small businesses are one-person or family operations with only a few employees. Examples include restaurants, gift shops, real estate services, and bakeries. Many businesses also operate on a part-time or seasonal basis. Some examples include outdoor food stands and souvenir shops found at popular lake and ocean resorts. According to the U.S. Department of Commerce, many businesses earn less than $250,000 in yearly revenue, with many of the very small shops earning far less.

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