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How Priorities Align with Practices

Executive Summary

The role of small businesses in the economy of the United States is huge. According to the U.S. Small Business Administration (SBA), the nearly 27 million small businesses in the United States represent 99.7 percent of all employer firms and comprise about 43 percent of the total U.S. private-sector payroll. (The SBA defines a small business as having fewer than 500 employees.) From 1993 through 2009, small-business owners provided nearly two-thirds (65 percent) of all net new jobs and employed about half of U.S. workers.[1] In 2012, the Principal Financial Group® again contracted with Harris Interactive to conduct national small-businessowner research to continue to keep its finger on the pulse of the small-business market.

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