NEWSRELEASE
For Release: February 5, 2003
Contact: John McDowell (202) 205-6941
john.mcdowell@sba.gov
SBA Number: 03-06 ADVO
New Report Details Growth And Recession In 2001
Small Business Economic Indicators, 2001 Analyzes Data Trends
WASHINGTON, D.C. - The effects of the growth and recession of 2001 on small business are comprehensively explained in Small Business Economic Indicators, 2001, the latest research release from the Office of Advocacy of the U.S. Small Business Administration.
Small Business Economic Indicators, 2001 is the latest in a series of statistical analyses of small businesses and the economic forces that affect them. According to the report, in 2001 “small businesses demonstrated resilience and strength.” Moreover, “small firms as a group held their ground: the levels of employer firms and the self-employed were relatively stable compared with the previous year.”
“2001 was a tough and tragic year for America,” said Thomas M. Sullivan, Chief Counsel for Advocacy. “Recession and terrorism pummeled our economy, and small business took the brunt of the blows. Yet, like the rest of America, small business owners refused to let events drag them down. We knew this was true from anecdotal evidence, but now the data support this as well,” he said.
Small Business Economic Indicators, 2001 contains data detailing the macroeconomic shocks to the economy in 2001. Data tables covering economic trends include: macroeconomic indicators, indicators related to small business, U.S. business measures, number of employer firms by state, number of self-employed by state, employer firm formation and termination rates by state, business bankruptcies by state, financial information by state, and more.
The report was produced by the Office of Advocacy, which examines the role and status of small business in the economy and independently represents the views of small business to Congress and the President. It is the source for small business statistics presented in user-friendly formats and it funds research into small business issues.
For more information, visit the Office of Advocacy website at
www.sba.gov/advo###
Created by Congress in 1976, the Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. Appointed by the President and confirmed by the U.S. Senate, the Chief Counsel for Advocacy directs the office. The Chief Counsel advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers. Economic research, policy analyses, and small business outreach help identify issues of concern. Regional Advocates and an office in Washington, DC, support the Chief Counsel’s efforts. For more information on the Office of Advocacy, visit
www.sba.gov/advo, or call (202) 205-6533.