This week, National Small Business Week will be celebrated across the country. We constantly hear the challenges and successes of starting and maintaining a small business; however, we don’t hear enough about the impact small businesses make in our community.
Here are some eye-opening trends from the Small Business Administration – “Small Business, Big Impact!”
- The 28 million small businesses in America account for 54% of all U.S. sales.
- Small businesses provide 55% of all jobs and 66% of all net new jobs since the 1970s.
- The 600,000 plus franchised small businesses in the U.S. account for 40% of all retail sales and provide jobs for some 8 million people.
- The small business sector in America occupies 30-50% of all commercial space, an estimated 20-34 billion square feet.
- Since 1990, as big business eliminated 4 million jobs, small businesses added 8 million new jobs.
We look forward to celebrating Small Business Week by highlighting business events in our community and financial solutions for small businesses. You can participate by shopping local and continuing to support local, small businesses.