Small businesses and the community: Their role and importance within a state's economy

Abstract

As communities focus on economic development, the common response has been the recruitment of outside industry. Left out has been the support for existing micro businesses and entrepreneurs. The research reported here explored the contributions of these smallest of the small business within the economy. For the study, 1,224 Oklahoma households were included. The research found that more than one in every five households owned and operated such a business. These businesses generated substantial gross income and employed at least one other person. These findings support including micro businesses in a comprehensive economic development plan. Copyright © by Extension Journal, Inc.