Small businesses are vital to the U.S. economy. Micro, small, and medium enterprises (up to 500 employees) generate 58% of jobs and 39% of the “value-added” economy, the portion beyond the cost of production. That’s according to an October 2024 report by McKinsey Global Institute titled “America’s small businesses: Time to think big.” MSMEs significantly influence the construction industry, employing over 75% of the workforce.