In the midst of the current financial crisis, it would be easy to lose sight of what actually forms the cornerstone of our economy. Entrepreneurs and small businesses make up 20 million of the 26 million businesses in America, Of these businesses, 97% employ 20 people or less, accounting for half of the non-farm GDP and 60-80% of jobs. (Small Business Administration)
Now more than ever, it is imperative that we reach out and prop each other up. We must find new and creative ways to
support entrepreneurs who are willing to take the plunge. Each day, 2,356 Americans decide to go into business for themselves. Their companies account for 78% of all US businesses. And they collectively obtain annual receipts of $951 billion. (Bureau of Labor and Statistics)
How can we ensure that small business thrives in our economy? By building support networks around the business owners. there are many free resources that can be used for business development. Groups like SCORE and the Small Business Administration have online and in person support for multiple areas of business. The volunteers and employees are a wealth of knowledge.
Chambers of commerce and local business alliances can also be great sources of support and resources. However, there are many times that small businesses feel intimidated or can’t see how they “fit” into the framwork. Reach out to a small business owner and offer to help them navigate the waters. See if there are special discounts that could be applied to save them money on membership fees.
Finally, their are all kinds of online supports for entrepreneurs. Build a list and hand it to your colleagues and friends. Include sites like Entrepreneur and Small Business Trends, to give them a head start. Be proactive and find them sites that will build up their resolve.
Small businesses have always been a major component of the American economy and the American dream. Now more than ever, we must work to ensure small businesses have the resources they need to be successful.
