Small Businesses Impact Houston Economy
By: Leon Castles
on Wednesday, May 23, 2012
Houston has been known for the kind of companies and job opportunities that it provides to North American people. However, small businesses are also contributing to the economy of the city. Many small business owners believe that they work equally hard to bring up the economy of the city and to make profit in the market but they hardly get the recognition because majority of the people believe that it is the multinational companies that makes difference. Houston is now celebrating the National Small Business Week where they have announced that small businesses in the city are equally responsible for the growth of the nation.
As per the information available from US Small Business Administration, last year small businesses across the nation generated more than $11 trillion across North America. The country has more than 27 million small business companies that generate more than 56 million jobs. In Texas alone 2.2 million small business companies have managed to generate 4.1 million jobs. Every small business company has five to six employees which mean that these companies hire 75% to 85% of the workers that are seeking jobs in the United States. During the event it was also found that Latino-based small business companies have grown rapidly in the United States in the last few years.