This week, May 4-8th, is National Small Business Week. This week is near and dear to our hearts because we are a small business and we believe in supporting small business. Our clients are small businesses and working with them we see, daily, the importance of supporting small business. So, we wanted to take a moment to share some facts about small business with you.
Quick National Small Business Facts:
- The SBA Office of Advocacy generally defines a small business as an independent business having fewer than 500 employees. There are an estimated 29.6 million small businesses in the United States.
- America’s small businesses are the engines of job creation. Small businesses create seven of every ten new jobs and they employ just over half of the country’s private sector workforce. (SBA Office of Advocacy)
- Small businesses create more than half of the nonfarm private gross domestic product (GDP). (SBA Office of Advocacy)
- Small businesses have generated 64% of net new jobs over the past 15 years. (SBA Office of Advocacy)
It’s clear that small business is the backbone of our country. Yet many of us forget about small business when we are running our businesses or even in our personal lives. We believe it’s important to support all small businesses when and where you can. Think small biz!