Next week marks the 2019, 56th annual National Small Business Week, hosted by the U.S Small Business Administration. Why is this important? Since small businesses are the backbone of the American economy, the SBA works to provide small business owners with the resources they need to be successful. In fact, there are over 27 million small businesses in the United States, and together they yield more than 50% of our nation’s gross domestic product.
That’s why as a small business ourselves, in honor of this coming week, Thrive Web Designs would like to provide you with the following reasons why it’s important to support small businesses.
Small Businesses Create Jobs
Do you work for a small business? Statistically, there’s a 50% chance that you do. The Small Business Administration considers any company a small business if they have fewer than 500 employees. That’s why the criteria for small businesses is so large. Furthermore, the SBA reports that between the years 1993 and 2011, nearly 64% of the nations jobs were created by small businesses.
This is due, in part, by the expanding phase of new and startup businesses where a company needs more employees to get the work done. While this phase will eventually end as a business grows and positions become filled, other new businesses will replace the ones that don’t require additional employees thus continuing this important economic cycle.
Small Businesses Bring Innovation
A testament to the innovative success of our nation is our booming tech industry. Americans throughout the U.S know that if their ideas aren’t being pursued by others, they can take their creative skills into their own hands and start their own company. What you may not realize, however, is that this benefits everyone greatly because innovation brings with it new products and ways of doing things thus speeding our progress with advancements in technology, healthcare, agriculture, education, and more.
In fact, innovation due to small business has transformed our lives in considerable ways in just the past 20 years. Things that we now have that we didn’t before include personal computers, rideshare programs, home delivery meal-kits, social media, Airbnb, etc. If you think about it, none of these things would have been possible without the entrepreneurial spirit of a small business startup.
Small Businesses Support Our Local Community
If you’ve ever resisted spending your hard earned money on large corporate products and services, supporting local small businesses is the way to go. When you choose to hire and purchase products from local, small businesses you will keep that money within your community. Furthermore, small, local businesses are more likely to form important partnerships and relationships with other local businesses thus making a positive impact for those in your local area.
Small Businesses Provide Product & Service Diversity
Because small businesses aren’t beholden to corporate deals with distributors, it’s more likely that they will offer more than one or two products and services. This keeps monopolies at bay thus reducing the chance of them taking over the market and ensuring you have options to choose from.
Additionally, small businesses offer more services and carry larger inventories of products than their corporate counterpart. Why? They aren’t held to the standards of rigorous corporate systems and they are more willing to provide customers with the things they really need. If by chance they don’t offer or carry the products and services you’re looking for, they will go out of their way to help you find it. That’s something most corporate companies just don’t offer
Thrive Web Designs
At Thrive Web Designs, we understand how important it is to support small businesses. As a small, local business right here in Boise, Idaho, we provide high-quality, professional web design, development, and marketing. We are proud to offer our services to our local community and clients nationwide. To learn more, contact us by filling out our online form or give us a call at (208) 391-2504. We look forward to working with you and getting started on your next project!