In an online column published earlier this month in Entrepreneur’s Daily Dose, Catherine Clifford reports that the one of the unsung business success stories is the contribution of small businesses. While larger companies continue to hire at a very slow pace, small businesses account for nearly 97 percent of all private sector hiring.
Looking at the jobs report for April 2012, the overall number of private sector jobs went down since March, but only 4,000 of the 119,000 jobs added in April were at large businesses. A large business is defined as a company with at least 500 employees. Compared to the 58,000 jobs added by small businesses in the same month, it’s clear that small business success is contagious. Medium-sized businesses were a large part of this number as well, adding 57,000 jobs during the month of April.