Small businesses are the backbone of the US economy. They provide jobs, support local communities (remember all those kids sports and band trip contributions?), and contribute to economic growth. Small Business Week is an annual event that celebrates the achievements and contributions of small businesses across the country. As a major employer, small businesses matter. If you want them to stick around, they need your support.
Why Small Businesses Matter
Small businesses play a vital role in the economy. They create jobs, spur innovation, and support local communities. According to the Small Business Administration (SBA), small businesses make up 99.9% of all businesses in the United States (33.2 million!) and employ over 46% of the private workforce. In addition, small businesses contribute to local economies by generating tax revenue, supporting community organizations, and providing goods and services to residents.
Small businesses also play a critical role in promoting innovation. Many of today’s most innovative companies, such as Apple and Amazon, started as small businesses. Small businesses often have the flexibility and creativity to develop new products and services that larger companies may not be able to provide. We learned this during COVID when many small businesses were able to pivot to address customers’ needs.
How to Support Small Businesses
Small businesses face a number of challenges, including limited resources, smaller reserves, and competition from larger companies. However, there are several ways you can support small businesses in your community and have fun doing it.
Shop Local: One of the easiest ways to support small businesses is to shop local. When you shop at local businesses, you’re helping keep money in the community and supporting local jobs. Want to make a larger commitment to shopping local? A local currency program can help.
Spread the Word: Another way to support small businesses is to spread the word. Share your positive experiences with friends and family and leave reviews on social media or review sites. Tag businesses on social media. Post pictures and videos taken at local places.
Volunteer or Work: Many small businesses rely on volunteers to help with events and day-to-day operations. Consider volunteering your time or skills to support a local business. Hiring is one of the most pressing issues small businesses face. If you’re thinking about a change in jobs (or getting a job), consider checking with small businesses for open positions.
Attend Events: Small businesses often host events, such as craft fairs, farmers markets, classes, and live music nights. Attend these events to show your support and meet other members of your community.
Small businesses are the backbone of our economy. They create jobs, promote innovation, and support local communities. During Small Business Week, take the time to celebrate the contributions of small businesses and find ways to support them in your community. Together, we can help small businesses thrive and build a stronger economy for everyone.
