I'm really happy to have here today a guest who's one of the great champions of small business in the United States.

Over 30 years, Lloyd Chapman has worked to protect the interests of our nation's 27 million small businesses.

In 2004, Mr Chapman founded the American Small Business League

with the goal of stopping the diversion of federal small business contracts to large corporations.

So let's start with basics.

Why are small, how important are small business to the U.S. economy and to employment?

Good question.

Let's see here, uh, Citrus Bureau data.

99% of all U.S. companies have less than five-year employees.

98% have less than 100.

And 87% of all U.S. firms have less than 20,

and the average American company has 10 employees.

No small business responsible for over half the gross domestic product, half the private sector workforce,

over 90% of US exports, and the most importantly, about 98% of all net new jobs.

So most Americans work in small businesses and I think America quite frankly is a

small business economy because that's where all the jobs come from.

Yeah, how worried are you about AI?

Terrified.

Well, in regard to the government using it against small businesses,

about what you're saying?

Well, the whole thing, I mean, just about displacing accounting firms, law firms, you know, there's so many things that it can do.

Do you think it's a bigger threat to bigger, big corporations or small corporations?

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