Final answer:
Over 99 percent of all businesses are classified as small.
Step-by-step explanation:
The statement is true.
According to the information provided, slightly less than half of all workers in private firms are employed by large firms with more than 500 workers. Additionally, another 35% of workers are employed by firms with fewer than 100 workers, which are considered small-scale businesses. This means that the vast majority of businesses in the U.S. economy are classified as small.