... is populated by small businesses and the other half by large businesses. Or, put another way, in 2006, 60 million people were employed by smalls, and 60 million by large.5 Small firms’ ... Picture: How Many Workers Do Small Businesses Employ? The private sector consists of small businesses and large businesses. And the government often defines small as firms with fewer than ... decline and survival of small businesses: An exploratory study of life cycles,” Journal of Small Business Management, pp. 531-550, October 2009. Kobe, Katherine, The Small Business Share of GDP,...