Summary
The Office of Advocacy, which is charged to study the role of small business and entrepreneurship in the US economy, has been receiving many calls asking about the effects of the current recession on small firms. The lack of current data by firm size makes it difficult to say anything about the number of firms that have either closed or opened. But the sketchy information about the current business cycle presents only a partial picture and leaves many questions unanswered. Looking forward from this recession, more entrepreneurship taking place is expected; indeed, it may help lead the economic turnaround. From the long view, today's pain is felt at a low point of an economic cycle in which small firms play a critical role.
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Extract
Small Firms and the Recession
The Office of Advocacy, which is charged to study the role of small business and entrepreneurship in the U.S. economy, has been receiving many calls asking about the effects of the current reces...
See the full content of this document
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