U.S. Census Bureau Daily Feature Mom and Pop Businesses
While shoppers and communities often welcome the opening of a major department store or a branch of a big-box chain, they are also the cause of some concern.
Small local businesses face greater competition, yet those small businesses are an outsized engine of economic growth. Additionally, they are important distinguishing features in local communities.
That’s why today is Mom and Pop Business Owners Day.
In 2012, there were nearly 28 million business firms in the U.S., but only 5.4 million of them had paid employees. In that group, over 2.7 million– about half– were enterprises having four or fewer employees. Almost 10 million of America’s business enterprises are women-owned.