New and Noteworthy

New and Noteworthy

Helping Small Companies Succeed — The Benefits of Supporting Local Business

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Owners of small businesses are often able to warmly greet their customers by name and know exactly what they’re shopping for as soon as they enter their store. In addition to the personalized service shoppers receive when patronizing a local business, they’re able to have the satisfaction of knowing they’ve helped their neighbor earn a good, honest living.

Fred Baldassaro, assistant administrator for communications and engagement at the U.S. Small Business Administration, says people should support small businesses because they’re a part of the communities we live in.

“Small businesses create two out of every three new jobs,” Baldassaro says. “More than half of working Americans either own or work for a small business.”

Baldassaro says small businesses are the foundation of the middle class.

“They are part of the economic bloodstream of this country; one of our greatest assets,” Baldassaro says. “America’s entrepreneurs have a strong spirit, a resiliency that keeps them going. They believe in their ideas and can energize the communities they live and work in.”

SMALL BUSINESS SATURDAY AND NATIONAL SMALL BUSINESS WEEK

Baldassaro says events such as Small Business Saturday and National Small Business Week raise awareness of the great work going on around the country and the impact small businesses are having in their communities.

American Express created the Small Business Saturday initiative in 2010, which is held the last Saturday in November, encouraging consumers to patronize at least one local business in their area that day. The company also offers tools on its website to help small business owners promote their companies all year long.

“In the case of National Small Business Week, small business owners get to come to Washington and participate in matchmaking and networking sessions, meet other government officials to discuss opportunities to contract with the federal government, and pick up tips to promote and talk about their businesses online to reach more customers,” Baldassaro says. “To the people watching or participating, these events show and highlight what small business owners and entrepreneurs are capable of and the impact they are having on their community.”

Baldassaro says these events have helped people to understand the importance of supporting a local business.

“People now realize that shopping small can make a big difference in their local communities, and when local businesses take off, they fuel an engine of economic growth and job creation that moves America forward,” Baldassaro says. “Small businesses drive innovation, create new jobs and increase U.S. competitiveness.”

Author: Laura Jerpi

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