Small businesses are the backbone of the American economy. In fact, over 99% of American firms are small businesses, and there are currently around 31 million small businesses in the US doing their part to bring innovation and new ideas to help grow our economy. It’s estimated that by 2030, 600 million new jobs will be needed, and small businesses will account for most of them.
April 30- May 6th is the week we acknowledge small business owners everywhere by celebrating National Small Business Week. Since 1776, when the U.S. gained its independence from Britain, people living in the U.S. have shared one dream: to live the American Dream and make their fortune. People have come from all over the world and started out as small-scale business owners in the hope of making it big. It wasn't until 1963 that we started honoring the entrepreneurs of our country.
How can you celebrate the small businesses that make up your community?
- Create your own “small business crawl” and explore the small businesses that make up your community. You may find a new favorite place to shop.
- Purchase gift cards for yourself, family, and friends from your favorite local spots.
- Leave reviews on Google to help others find your favorite small businesses.
- Celebrate your favorite small businesses on social media by using the hashtag #MomPopBusinessOwnersDay.
Thanks to the Internet and digital technology, starting your own business is easier than ever. Instead of worrying about physical space, you can set up a digital store with little to no investment capital. In fact, over 50% of small businesses start at home. Are you considering dipping your toes into the entrepreneurial waters? Talk with your financial advisor and your accountant to see if there’s anything you need to consider to join the ranks of the millions around the globe who count themselves among the small business owners of the world.
Small Business Week recognizes the hard work and devotion that millions of business owners put in every day. We hope you use this week as a chance to connect with the small businesses that keep America running.
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