The number of new micro-, small, and medium-size enterprises (MSMEs) in the United States increased 54 percent between 2019 and 2021. This addition of newcomers, however, did not translate into a boost in employment, as nearly as many businesses closed during that time, senior partner Olivia White and coauthors explain. The proportion of workers employed by MSMEs stayed largely stagnant, suggesting that the industry structure might be gradually changing, with some MSMEs growing into larger ones. Click through the interactive to see more.
To read the report, see “America’s small businesses: Time to think big,” October 2, 2024.