LITTLE ROCK, Ark. – Small businesses are an important part of the local and national economy and May brings into focus the opportunity for small business owners.

George Schaefer, senior vice president and director of market development for Simmons Bank, stopped by KARK’s Arkansas Today to discuss the impact of small business in the state.

Schaefer said there are 264,245 small businesses in Arkansas, which makes up 99.3% of Arkansas businesses. In all, that is more than 497,600 Arkansans that are employed by homegrown businesses in the Natural State.

Schaefer also talks about the national impact of small businesses and the success rate as more launch.