How important are small businesses in the Tenth District?
Small businesses were widely recognized in the 1980s as the driving force behind economic growth. One benchmark study estimated that small firms accounted for 80 percent of all new jobs in the nation in the late 1970s. Analysts predicted that small businesses would continue to provide most new jobs as the economy became more service-oriented and therefore dominated by firms that tended to be smaller in scale. ; The desire to promote small businesses as an engine of job growth was partly responsible for efforts in the mid-1980s to overhaul the tax system and deregulate business. Since then, election campaigns and congressional debates have continued to place small businesses and job growth together in the public eye. ; Today, improved access to additional data allows a comprehensive look at the importance of small businesses in the Tenth District economy. Small firms continue to be the primary source of total jobs in the district, accounting for 60 percent of all jobs in 1994. But not all sectors of the district economy favor small firms. For instance, small firms in 1994 accounted for less than a third of all manufacturing jobs in the district. Therefore, in their efforts to promote job growth policymakers should not overlook the contribution that large firms can make in some key sectors.
Volume (Year): (1997)
Issue (Month): Q III ()
|Contact details of provider:|| Postal: 1 Memorial Drive, Kansas City, MO 64198-0001|
Phone: (816) 881-2254
Web page: http://www.kansascityfed.org/
More information through EDIRC
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:fip:fedkre:y:1997:i:qiii:p:9-12. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lu Dayrit)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.