NEWSRELEASE
For Release: January 5, 2006 Report Documents 2004 As A Good Year Examines The Economic Environment, Entrepreneurship, And
Innovation WASHINGTON, D.C. - American small business had a good year in 2004,
according to a report issued today by the Office of Advocacy of the U.S. Small
Business Administration. The report, The Small Business Economy 2005 Edition,
documents the state of small business and its contributions to the economy using
the latest data for 2004. “2004 was a good year for American small business,” said Dr. Chad Moutray,
Chief Economist for the Office of Advocacy. “The economic environment fostered
entrepreneurial activity. The gross domestic product increased, the economy
added jobs, and new employer firms and the number of self-employed increased.”
He made the remarks at the report’s release before the National Economists Club. The comprehensive report examines the role small business plays in the
economy. Key segments focus on the economic environment, regulations,
innovation, tax policy, minority and veteran entrepreneurship, federal
government procurement, and small business financing data. This year’s report includes a paper from Dr. William Baumol, a renowned
economist specializing in entrepreneurship. The paper, “Small Firms: Why
Market-Driven Innovation Can’t Get Along Without Them,” examines the reasons why
small firms have contributed a critical share of radical innovative
breakthroughs. The report also contains a paper authored by Advocacy economists Drs. Radwan
Saade and Joe Johnson on the benefits of a more simple and predictable tax code. The Office of Advocacy, the “small business watchdog” of the government,
examines the role and status of small business in the economy and independently
represents the views of small business to federal agencies, 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 and a complete copy of the report, visit the Office of
Advocacy website at
Contact: John
McDowell, (202) 205-6941
john.mcdowell@sba.gov
SBA Number: 06-1 ADVO
Press Kit
For Small Business
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The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The presidentially appointed Chief Counsel for Advocacy advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers. For more information, visit
www.sba.gov/advo, or call (202) 205-6533.