National Small Business Week has been around since 1963, recognizing the contributions of small business owners in America. You may be surprised to find that more than half of Americans own or work for a small business, creating enormous amounts of jobs for Americans. The impact of these entrepreneurs is phenomenal, deserving recognition on a whole new level as they work on growing small businesses to create new jobs, drive innovation, and so much more. We have already started 2017 Small Business Week, which spans from April 30-May 6.
Throughout the week, many small businesses across the United States are holding events to honor businesses as a whole and their impact on our country. As it stands, there are 28 million small businesses in America. This accounts for an extraordinary 54% of all sales in the U.S. Small businesses also provide 55% of all jobs since the 1970s, highlighting their particular importance in society.
Why Small Businesses Are Important
Testing ideas on the market marks the start of a new business and the success it can bring to the community, or the country overall. They offer stability to families, owners, and more. But what else do small businesses do?
Help Further Expansion: Small businesses give consumers the option of wider expansion of where they will find the goods they are looking for. The U.S. retail market has few restrictions on growth, which means that their businesses are most likely to develop into an international operation.
Bring Productivity: Small businesses are found to be more productive than some large companies. In fact, many small businesses consist of large amounts of scientists and engineers in our country. This research leads to greater developments.
Job Growth: Small businesses added a total of 2.5 million new jobs from 2005 to 2006, according to the U.S. Small Business Administration. Small business growth will always be important in our society, in the present and future.
Because small businesses help fuel America, it is important to give them the recognition they deserve. This is why we celebrate Small Business Week in America, because without small businesses, where would we be?