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against ALL CompetitorsImportance of . Small FirmsContribute about 51% of . GDP13% of All Workers SelfEmployed47% of all Sales in the .52% of the Private Work forceCreate about 76% of New JobsMajor Source of InnovationFlexibility to Meet Short Term FluctuationsEconomic Shock Absorbers Small Firm Employment in .IndustryAllAgriculture, Forestry, FishingMiningConstructionManufacturingTransportationWholesale TradeRetails TradeFinance, Insurance, RealtorsService% in Small Firms50%77%45%76%26%45%79%74%59%45%. Business Population000’s of FirmsSource: SBA, 1994Number of . Firms by SizeSource: IRS, 1994The Average . Mi