What is the majority classification of businesses in the US?

The majority classification of businesses in the US is small businesses. Small businesses play a critical role in the American economy, representing a significant portion of all businesses and employing a large number of individuals. They are defined by their size, with criteria often including the number of employees and annual revenue, which vary by industry.

These enterprises are crucial for fostering innovation, creating jobs, and contributing to local communities. In fact, it is estimated that small businesses account for a substantial share of the employment and economic activity in the country. This prevalence speaks to their importance in driving economic growth and reflects a business landscape that is heavily populated by these smaller entities rather than large corporations or non-profit organizations. Therefore, recognizing the dominance of small businesses helps illustrate the diversity and inclusivity of the American entrepreneurial spirit.