One-Third of Global Employment is Created by SMEs

©iStock/Prasit Rodphan

Small businesses are the backbone of the world.

Indeed, small and medium-sized businesses (SMBs) contribute significantly to the GDPs of their countries. In fact, in the U.S. alone, SMBs account for 46 percent of private, non-farm GDP, according to the U.S. Small Business Administration.

But there's another measurement to track the progress of SMEs:  jobs.

In emerging markets like China and Medico, SMBs make up one-third of employment and up to 40 percent in developed economies.

Read more about how SMEs around the world create jobs.