John Thune: “99% of the businesses in this country are considered to be…”

“I think as everybody knows, this is Small Business Week, which is the week when we celebrate our nation's small businesses which do represent the backbone of our economy. If you look at the definition, 99% of the businesses in this country are considered to be small businesses. They are folks that are out there investing every day, creating jobs and making our economy hump.” (00:18–00:25)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.