SBW was created in 1963 in an effort to honor and show appreciation to small business owners throughout the United States. The first National Small Business Week began when John F. Kennedy signed a proclamation, which ushered in a tradition that still stands to this day. Every year since Kennedy’s 1963 signature, each U.S. president has signed a proclamation to continue observance of the holiday.
Small Business Week provides the government and citizens an opportunity to thank small business owners for their contributions to the United States economy.
It’s estimated that 27.2 million small businesses operating within the U.S. are responsible for 60-80% of all new jobs created each year. Because small businesses, and owners, are so important to stimulating the economy as well as job growth, this special week and rewards system honors the contributions these businesses make to society.
During Small Business Week top entrepreneurs are awarded with a variety of honors by the U.S. Small Business Administration. Awards are not only given to entrepreneurs, but also companies and institutions which help make running a small business possible. This includes awards such as Lender of the Year, honoring financial institutions which offer small business loans. Other awards honor contractors, business development centers, Female business owner groups and more.
The ability for anyone to start and run a small business allows residents of the U.S. to live the “American Dream” where anything is possible with a good work ethic. To continue supporting the creation of small businesses, it’s important we continue to provide support and assistance to existing and potential small business owners. These small business owners rely heavily on loans from financial institutions as well as the assistance of various business groups. Small business centered groups help to educate individuals regarding the pitfalls of business ownership, and help ensure they become successful.
As a website and business which supports small business owners, and the growth of their business, we are interested in hearing your perspective. Please share with us what, if any, additional support mechanisms the government and/or financial institutions can do to help the small business owner, Can you think of ways we, as a nation, can assist the common individual with fulfilling their dreams of owning and running a small business?
Some ideas presented for helping small business owners in the past include:
- Easier access to appropriate educational materials
- Better education on the risks of starting a small business and how to avoid common pitfalls.
- Credit leniency with loan requirements.
- More streamlined loan approval processes.
- Education centered around applying for, and being approved for, a loan.
- Shop Local – Buy Local Programs
We would love to hear from our audience and begin a helpful discussion about this topic. Also feel free to share how you will be celebrating Small Business Week.