The article titled “Who Owns America’s Businesses?” explores the ownership patterns of businesses in the United States. According to the U.S. Census Bureau, there were approximately 7.7 million businesses in the country in 2020. These businesses range from small, one-person operations to large corporations employing thousands of workers.
The ownership breakdown reveals that the majority of businesses in the U.S. are owned by individuals and families. Around 91% of these businesses are classified as nonemployer firms, meaning they do not have any paid employees other than the owners themselves. These small businesses play a crucial role in the American economy and contribute to job creation and economic growth.
However, a small portion of businesses in the U.S. is responsible for a significant share of employment and revenue. Only about 3% of all businesses are considered employer firms, employing 100 or more workers. These employer firms account for over half of the overall business revenue and employment. This highlights the concentration of economic power in the hands of a few large corporations.
In conclusion, while the majority of businesses in the U.S. are small, nonemployer firms, a small percentage of employer firms dominate the country’s economy in terms of revenue and employment. This disparity in ownership patterns reflects the complex nature of the American business landscape, with both small businesses and large corporations playing important roles in driving economic growth.
