Why Supporting Small Businesses This Holiday Season Is More Urgent Than Ever
Last year we watched small businesses feed the needy, host socially distant dance parties and power-wash playgrounds, all while their doors were closed. And although for some 2021 may finally feel like business as usual, the truth is many (if not most) small businesses still need our help.
According to a September 2021 Small Business Pulse Survey (SBPS) by the U.S. Census, 67.5% of small businesses surveyed reported the pandemic had a large or moderately negative effect on their business. The current report is part of a series of surveys designed to measure how the pandemic is affecting the nation’s small businesses, and the results are sobering. Nearly 40% of small businesses believe it will be more than six months before their business will return to its normal level of operations; however, 10% said they do not believe their business will ever return to what it once was.
Although some of these businesses may be small or unfamiliar, it doesn’t negate their importance in our societies.
In fact, quite the opposite. Data from GoDaddy’s Venture Forward Initiative, a multi-year research effort to quantify the impact microbusinesses have on the U.S. economy, show how small businesses are critical to economic growth and resiliency. Simply adding one microbusiness per 100 people in a community raises the average household income by $485 and can reduce the unemployment rate by .05 percentage points in a county. Essentially, regularly shopping small is like giving your whole city a stimulus check.
What you need to know about small business in America, Hiring Trends, Vaccine Mandates, and more
Key Takeaways
There are 31.7 million small businesses in America, which combined account for 99.9% of all U.S. businesses.
Small businesses are credited with just under two-thirds of the net new jobs created since 2000, and employ roughly half of America's private sector workforce.
The health of small businesses impacts the health of large corporations and financial institutions.
Now that the government sector is being stung by the same policies that have been destroying private businesses, maybe some more thought will go into writing new regulations?
What has happened to Van Buren Township in September and October has been called a “Turnover Tsunami” by Human Resource directors who say it is happening everywhere.
During National Veterans Small Business Week, November 1-5, 2021, join the SBA and its extensive partner network for a series of virtual events hosted across the country. The events will feature information to help you start, grow, or expand your veteran-owned small business.
This webinar is free and open to the public. Here you can learn how you can make an impact on recycling, and what Waste Management is planning for the future.
Lots of applications have been coming in, did you or your group want to be part of this annual event? Download the application and get it in soon! Believe it or not, we are running out of time!
