Today marks the 50th year of National Small Business Week. Although many things have changed over the years with the fluctuation of the global economy, one thing that has not changed is America’s entrepreneurial spirit.
In efforts to recognize all of these small, but crucial components that make up our economy, National Business Week is a national recognition event to honor the top, go-getters of America.
This year offers daylong events held in Seattle, WA; Dallas, TX; Saint Louis, MO; Pittsburg, PA; and Washington D.C. Panel forums include topics on government contracting, health care, access to capital, and international trade among with a plethora of keynotes and presentations from notary entrepreneurs.
Primarily, small businesses are privately owned and operated; and are not dominated in its field nationally. Size standards that constitute whether the organization can be considered a “small business” vary depending on industry differences. While large conglomerates are looking for bail outs and spending cuts, America’s small businesses are the engines of job creation. Small businesses create seven out of ten new jobs and employ over half of the country’s private sector. (SBA Office of Advocacy)
Numbers don’t lie:
Research claims that small businesses create two out of three net new private sector jobs in our economy. And today, half of Americans either own or work for a small business.
- There are an estimated 29.6 million small businesses in the United States.
- Compliance with environmental regulations costs small businesses four times more than large firms. (NFIB)
- 66% of small businesses are maintaining or increasing spend on digital marketing – AT&T Small Business Technology Poll 2013
- Since 1990, as big business eliminated 4 million jobs, small businesses added 8 million new jobs.
Small business account for:
- 52.6% of all retail sales
- 46.8% of all wholesale sales
- 24.8% of all manufacturing sales
Let’s keep the Small Business pendulum swinging:
In honor of National Small Business Week, Collideascopes will be posting articles highlighting the small business that did what it required to make a mark in their industry, tips to apply so your business doesn’t go belly up, case studies, and innovative solutions and trends in the market.
Let’s take a day and go to our local market for groceries one night, support an off-Broadway show, or book a photo-shoot with the community photographer. You will surely get a bang for your buck, along with see firsthand what benefit you provide for the ambitious entrepreneur!