There is a close relationship between the economy and small businesses. Small businesses continue to be incubators for innovation and employment growth. According to the U.S. Small Business Administration Office of Advocacy, small businesses make up more than 99.7% of firms with paid employees, account for 65% of net new jobs (from 2000 to 2018, small businesses created 9.6M net new jobs while large businesses created 5.2M - see Figure 2), and represent about 95.9% of employer firms in high-patenting manufacturing industries.
As you can see by the statistics, small businesses continue to play a vital role in the economy of the United States.
Find more statistics on the SBA's Office of Advocacy website.