Why Supporting Small Business is More Important Than Ever During National Small Business Week
Small businesses are the backbone of our economy, representing over 99% of all businesses in the US. National Small Business Week was established to celebrate the contributions of small business owners and entrepreneurs to our country’s economic growth and stability. Now more than ever, it’s crucial to support small businesses during this week and beyond. Here’s why:
Small Businesses Create Jobs
Small businesses are job creators, accounting for nearly 65% of new jobs created in the United States. At a time when unemployment rates are high, supporting small businesses can help stimulate the economy and create job opportunities for both skilled and unskilled workers.
According to a recent survey, small businesses created 1.5 million jobs in 2019 alone, proving just how important they are to our economy. The more we support small businesses, the more job opportunities we create, and the stronger our economy becomes.
Small Businesses Revitalize Local Economies
Small businesses are often the linchpin of local economies. They play a significant role in creating vibrant and thriving communities by keeping money circulating locally and supporting other local businesses.
Studies have shown that small businesses generate three times more local economic activity per square foot than big-box retailers. When you choose to buy from a small business, you’re not just putting money in the pockets of the business owner; you’re also supporting the growth and development of your local community.
Small Businesses Offer Personalized Service
One of the most significant advantages of shopping at a small business is the personal touch that you receive. Small business owners are invested in their customers and take the time to get to know them personally. They offer personalized service, which can make all the difference when it comes to customer satisfaction.
When you shop at a small business, you’re supporting someone who has put their heart and soul into their business. They care about their customers and go above and beyond to provide top-notch service. Shopping at a small business is not just a transaction; it’s an opportunity to build a relationship with someone who truly cares about their community.
Small Businesses Foster Innovation
Small businesses are often the drivers of innovation, introducing new products and services into the market that the bigger companies may have overlooked. They have the flexibility and adaptability to pivot quickly and take advantage of emerging trends.
When you support small businesses, you’re also supporting innovation. You’re helping to ensure that new ideas and new ways of doing things continue to emerge and thrive.
Conclusion
National Small Business Week serves as a reminder of the critical role that small business plays in our economy. By supporting small businesses, we contribute to our local communities’ growth and development, make job opportunities available, and encourage innovation. During this week and beyond, make a conscious effort to give small businesses your business.
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