The significance of small businesses in the American economy cannot be overstated, as they fuel local job creation, foster innovation, and encourage entrepreneurship among underrepresented groups such as women, minorities, and veterans. With small businesses accounting for 48 percent of the American workforce and contributing 43.5 percent of the US Gross Domestic Product (GDP), they are widely acknowledged as the backbone of the economy. However, we must not forget that small businesses require our support to continue to prosper and drive the economy in a positive direction.
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