Small businesses are the beating heart of local economies and communities across the country. As mainstays of neighborhood identity, small businesses1 strengthen community pride and connections among residents. Small businesses also serve as a significant employment engine, driving approximately two-thirds of job growth nationally over the last two decades. A focus on small business development can build individual, household, and broader community wealth. Small businesses provide pathways for asset ownership, income generation, local employment, and for greater reinvestment of revenues into local neighborhoods.
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