Small Business Saturday was last weekend. Carol Roth is a small business expert and advocate. In her recent article, “Why it’s so important to ‘shop small’ on ‘Small Business Saturday’ and every day of the year,” she shares some compelling reasons why it is critical that we support small businesses now and not underestimate the importance of how we spend our dollars.
In the article Carol writes:
Based on their label, you might underestimate the importance of small business to the U.S. economy. But there’s a reason why small businesses are often referred to as the economic backbone of the United States.
As we approach one of the most important times of the year for businesses, it’s also a good time to revisit why it is so important to “shop small.”
Per 2023 US SBA (Small Business Administration) (Small Business Administration) data, the almost 33.2 million small businesses in the U.S. (99.9% of all the business entities in the country), employ almost half of all of our country’s employees (46.4%) and have accounted for almost 63% of net jobs created since 1995.
In terms of the economy overall, small businesses contribute almost 44% of GDP (Gross Domestic Product).
Small businesses are unique and important in that they help to decentralize economic power.
You can read the rest of the article here.
Photo by Mike Petrucci on Unsplash
