According to the U.S. Small Business Administration, small businesses (fewer than 500 employees) account for about 44% to 48% of private sector employment, supporting the 'nearly half' claim. Additionally, small businesses have historically generated a majority (roughly 60–65%) of net new private sector jobs over multi-year periods, though the exact share of 'most' job growth can vary by timeframe. Both parts of the statement align with widely cited federal data, making it factually TRUE.

SBA data shows small businesses employ about 47% of private sector workers (nearly half) and have generated roughly 60‑65% of net new jobs over recent decades, meaning most job growth comes from smaller enterprises.

U.S. Bureau of Labor Statistics data show that small businesses (typically defined as firms with fewer than 500 employees) employ roughly 47% of private‑sector workers, and they account for about 60% of net private‑sector job gains, supporting both parts of the claim.

According to U.S. Small Business Administration data, small businesses (fewer than 500 employees) account for approximately 44.4% of private sector employment, which is indeed nearly half. Additionally, recent Bureau of Labor Statistics data shows small businesses consistently create about 60-65% of net new jobs annually, supporting the claim that most job growth comes from smaller enterprises.