Small Business Month - To Celebrate or Postpone?

Business

Last week I wrote specifically about micro businesses and how they are a subset of small businesses. This week I am going to expand a bit more and talk about the importance of small businesses because this Friday, May 1st is the start of Small Business Month. Yes a whole month and quite frankly after the past month and a half, we need to keep our focus on small businesses and helping them weather this crazy time.

"Small businesses are the lifeblood of the U.S. economy: they create two-thirds of net new jobs and drive U.S. innovation and competitiveness. A new report shows that they account for 44 percent of U.S. economic activity. This is a significant contribution, however this overall share has declined gradually.

This useful benchmark shows us that small businesses continue to be big contributors to the U.S. economy,” Acting Chief Counsel for Advocacy Major L. Clark said. “While their contribution has grown at a slower rate than that of large businesses, small businesses continue to be at the forefront of driving innovation, jobs and economic growth.”

Let's focus on that last bit..

".. small businesses continue to be at the forefront of driving innovation, jobs and economic growth.”

During my research, I have found that National Small Business Week, which is just one week out of Small Business Month has been postponed, as noted on the Small Business Administration website and Small Biz Trends.

Source: SBA.gov

I think, that this is a mistake because small businesses need to be supported so I am going to continue with my focus on small businesses especially this month, and I am going to do what I can to help drive economic growth in whatever way I can because there are a lot of small businesses, some are still able to operate fully, some are operating in a reduced capacity, and some are sidelined for now.

Source: SBA.gov

I am sure that we all have ideas about what types of businesses fall into that small business category. Below are some of the fastest-growing small to medium enterprises are:

  • Legal offices
  • Fitness and recreation centers
  • Dentist and physicians offices
  • Veterinary services
  • Limted-service and full-service restaurants
  • Beauty Salons
  • Child day-care services
  • Single-family housing construction and all other supporting specialty trade contractors

As we all contemplate how we can help ourselves and others here are a few statistics from Small Business Trends Alliance (via Guidant Financial) for 2020

  • 44 % of small business owners are Gen X (39-54 years old)
  • 41% of small business owners are Boomers (55-73 years old)
  • 27% of small business owners are women which is a 4% increase YOY


What I Am Doing

As I mentioned above I think this is still a very important time to help small businesses, I am going to continue with my plan to have my guest blog series run next month. I have asked businesses if they would like to submit and in turn, I would publish their blog, website link, and Facebook page. As of right now I have three guest blogs and they will appear in the following order, a submission by a local credit union on May 6th (I do use them for my business bank account, but I did not receive any compensation or incentive from them), a submission by a local HVAC company on the 13th, and a submission from a local cake shop on the 20th.

I have offered a new product line last week at a low introductory offer to help other micro and small businesses keep up their social media presence. Additionally, due to the circumstances that we all find ourselves navigating I am offering my services to micro and small businesses to help them create or refresh their websites, with discounts and payment options. Please feel free to contact me to discuss your needs and current situation, one of the benefits of working with me via Blue Shutters is that I understand that a 'one size fits all approach' right now is not going to work well and flexibility is a strength that I can offer my customers so that together we can both succeed and thrive.


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NOTE: I am not being paid for my mentions of people, articles, products, or books I used above nor do I receive referral compensation. The links I provide are for your convenience only.

Unless otherwise indicated I sourced the links provided while researching a post. Links that I provide at the request of another person/business will be noted, and if I am paid to provide a link I will disclose that information on the post in which it is applicable. All opinions are mine, regardless of whether or not I am compensated, and are not in any way influenced by the requesting party.

DISCLAIMER: This advice is general in nature and not to be taken as personal professional advice. This blog does not provide legal advice if you need legal advice, please contact an attorney directly.


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Categories: Business