Is a Gap in Small-Business Credit Holding Back the American Economy? Karen Mills, July 21, 2014, Opinion. “Small businesses are core to America’s economic competitiveness. Not only do they employ half of the nation’s private sector workforce—about 120 million people—but since 1995 they have created approximately two-thirds of the net new jobs in our country. They are also instrumental in driving the innovation that provides a competitive edge in the global market. Small firms produce 13 times more patents per employee than larger firms, and employ more than 40 percent of high-tech workers in America…” Link