According to the Census Bureau’s Annual Survey of Entrepreneurs, small businesses make up a whopping 99.7% of U.S. businesses and 64% of the new jobs created annually. In fact, 74% of small business employees report job satisfaction. While smaller companies may not have the HR resources of their mega-counterparts, flexibility, individually tailored benefits, and more human connection sets a solid foundation for these high marks.
When money is spent on locally owned business, a much larger percentage of that amount is spent locally as well. As much as 64% stays right in that community, versus only about 32% spent at a chain, and 0% spent online.
Local businesses sponsor kid’s sports teams, events we love so much (and missed this year), as well as the nonprofit groups working hard to give back to the community. Without the support of small business, many would not have the revenue stream to survive.
And finally, unique small businesses drive traffic to small town Main Street from all over, creating tourism and tax revenue that is used to enhance local infrastructure and services.
While the passage of time has reduced our alert level when it comes to all things COVID, small business and small town Main Street still need your help to make it through. We are thankful to live in a community which supports its local business. Together, we will not only survive, we will thrive!