In the US, it is claimed that 65 percent of jobs are created by small businesses. According to that statistic, small businesses are the largest job creators in America. The Wall Street Journal takes a closer look at this number and compares it to our counterparts in the European Union.
In the US, companies with fewer than 500 employees are considered “small businesses” and account for more than 99 percent of private employers. At the same time, the European Union defines a medium-size business as those with fewer than 250 employees. Small business are defined as those with under 50 employees. If the European Union way of looking at small businesses is applied to the USA, small business really only created 32 percent of jobs.