A spotlight on small businesses in the US

According to McKinsey Global Institute, micro-, small-, and medium-size enterprises (MSMEs) in the US account for 39% of value added and 58% of employment, compared to 54% and 66% in advanced economies. They are crucial in professional services and construction but face challenges with productivity.

US MSMEs operate at only 47% of the productivity level of large companies, versus 60% in advanced economies. Closing this productivity gap could boost US GDP by 5.4%, compared to a potential increase of 4.7% across various advanced countries.

Source: https://www.mckinsey.com/mgi/our-research/a-microscope-on-small-businesses-the-productivity-opportunity-by-country#/