Small Business Act of 1958 and Contribution to Small-Scale Businesses to the U.S. Economy

Small-scale businesses have been accepted globally as instruments contributing to economic growth and development. Governments in many developing countries have adopted comprehensive efforts and policies aimed at improving the performance of small-scale businesses that have fallen short of expectations. Small-scale businesses face significant challenges that hinder their abilities to contribute to optimal economic growth and national development (Entrepreneurship 321). Therefore, this essay analyzes the Small Business Act of the year 1958. This will entail analyzing the historical perspective and implications of the act on the small businesses. The second section entails the analysis of the importance of small-scale businesses to the U.S. economy. This entails analysis of whether small-scale businesses contribute to the economy of the U.S.A.

The Small Business Act of the year 1958

The U.S. government enacted the Small Business Act of the year...
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