The Small Business Economy: A Report to the President, 2006

Report - Ecomonics

June 30 2007

The Office of Advocacy of the U.S. Small Business Administration is pleased to present The Small Business Economy: A Report to the President. December 2006

In 2005, the American economy continued to expand, adding 2 million new jobs, and ended the year with the seventeenth consecutive quarter of real gross domestic product growth. Based on Office of Advocacy research, we know that small business owners contributed to this expansion by continuing to invest in their companies, hire additional workers, and develop innovative products and services.

"The Small Business Economy is a review of how small businesses fared in the economy in 2005, in the financial markets, and in the federal procurement marketplace, as well as new information about women in business. Chapters 6 and 7 offer guest contributors’ studies of, respectively, links between education and entrepreneurship, and an approach to economic development that has been called “economic gardening.” In its 25th year of overseeing the implementation of the Regulatory Flexibility Act of 1980, the Office of Advocacy takes a look back and ahead at ways to improve the regulatory environment for small firms. Appendices provide additional data on small businesses and background information on the Regulatory Flexibility Act."

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Acknowledgments:

The Small Business Economy: A Report to the President was prepared by the U.S. Small Business Administration, Office of Advocacy. The Chief Counsel for Advocacy is Thomas M. Sullivan; the Chief Economist is Chad Moutray. The project was managed by Kathryn J. Tobias.

Specific chapters were written or prepared by the following staff and outside contributors:
Chapter 1 Brian Headd
Chapter 2 Vicky Williams with Charles Ou
Chapter 3 Major Clark
Chapter 4 Ying Lowrey
Chapter 5 Mark Weaver, Rowan University; Pat Dickson, Wake Forest University; and George Solomon, George Washington University
Chapter 6 Steve Quello, CCS Logic; and Graham Toft, Growth Economics
Chapter 7 Claudia Rogers and Sarah Wickham

The Office of Advocacy appreciates the interest of all who helped prepare the report. Thanks are also extended to the U.S. Government Printing Office for their assistance.

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