In the third edition of the Economy League of Greater Philadelphia’s Leading Indicators, a weekly series on howthe region’s economy is faring during the COVID-19 pandemic, the org takes a closer look at small businesses — which make up 99.7% of area companies.

That statistic is tied to to 2017 research, defining a small business as one that employs 500 or less people. The Small Business Administration uses the same statistic to define small businesses, and those are the businesses eligible for its Paycheck Protection Program (PPP) that went live last week and promises loans to cover two months of employees’ pay.

Out of that 99.7%, the Economy League report said, 53.7% had five employees or fewer. And while some industries have a higher concentration of small businesses, all industries — including construction, educational services, wholesale and retail trade, and real estate — were dominated by businesses with 20 employees or fewer.

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