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W W W. M A I N E B I Z . B I Z 13 M AY 1 6 , 2 0 2 2 F O C U S S M A L L B U S I N E S S With the nation's largest network of dentists, get the right partner in dental benefits to make sure healthy smiles are the face of your healthy business. NortheastDeltaDental.com LET SMILES DO THE TALKING FOR YOUR BUSINESS WITH SMILE POWER! NEDD_1_2 PAGE_ MAINEBIZ_man.indd 1 8/19/19 8:05 AM In the first two quarters of 2020, small business employment declined by 9.1 million. The net loss of 8.6 million jobs was the largest quarterly loss since the SBA first started collecting data in 1992. Since then, the U.S. has had four quarters of highest growth since the SBA started collecting data, with the economy adding 5.5 million jobs. In the second quarter of 2021, the latest quarter for which data is available, small business employment grew by 939,000. Small businesses have accounted for 2 out of every 3 jobs added in the past 25 years. Businesses with more than 500 employees saw big declines in employment into 2021. They were also slower to recover. During the first two quarters of 2020, employment by large companies fell by 6.8 million. In the four quarters following the recession, employment at large companies grew by 3.1 million. In that same period, small businesses generated 12.9 million net new jobs. ew data from the Small Business Administration sheds light on employment changes during the pan- demic. While the pandemic initially brought on economic recession and job loss, small businesses got back on their feet faster than their larger counterparts. F O C U S S TA R T S O N F O L L OW I N G PA G E » N S O U R C E : SBA's "Small Business Job Creation," by Daniel Wilmoth, April 2022. PANDEMIC TRENDS IN SMALL BUSINESS GROWTH Since the recession in the early pandemic, job growth at small businesses has outpaced hiring at large companies. — SBA's "Small Business Job Creation" report of April 2022

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