Small businesses are the backbone of the American economy just as big businesses are a vital part to the American economy. Both provide jobs for Americans while at the same time provide services and goods. According to the Small Business Association, over half of all employees in the United States work for a small firm. Big business employs around 35% of new hires. There is an on going battle of small business versus big business in ones opinion or even in politics and between experts in the news. However what is undeniable is that they both contribute to the economy locally as well as internationally. There are also several benefits to working for either a small business or big business such as getting work experience from a small business or retirement plans of the big businesses.
A business is considered a small business when that business has under 500 employees (499 employees and under). Some examples of a small business one might be familiar with are Laserscope, Neoware Systems, and Penn Virginia. Laserscope, which makes medical laser supplies, employs 229 workers as of 2005. Neoware Systems that makes computer appliances employ’s 114 workers. Penn Virginia which is in the coal fusion business has 32 employees.

A business is considered a big business when that business has over 500 employees. Familiar big business includes J.P. Morgan Chase, Apple Inc, General Motors. J.P. Morgan Chase provides various financial services employs around 222, 316 workers. Apple Inc employs around 36,800 workers; the company makes electronic products such as computers and the iphone. General Motors which makes motor vehicles employs around 335,000 workers. It is without a doubt that small businesses are important to our economy since the majority of Americans are employed by these small businesses. In 1953 the Small Business Administration was created to