It’s Small Business Saturday, a day to pause and recognize the small businesses that shape our communities. But just one day to acknowledge and celebrate them feels about 364 days too few.
Now, I know what you are thinking, I may be biased, I may have a vested interest, or that, of course, I would feel this way. And to be fair, you would be correct on all fronts. Yet we still do not fully appreciate and celebrate small businesses as they deserve.
Our small business community does so much for us. They drive job growth. According to the Small Business Administration, 2 out of every 3 new jobs are created through a small business. They keep local dollars circulating locally. Research shows that more than 60% of every dollar spent within the local economy stays in the community, compared to 40% when spending money with a corporation. This is the multiplier effect at work. Starting a business is also one of the fastest ways to grow wealth and build assets that can be passed on to future generations.
These statistics make the financial case, but there are other, arguably more important reasons why small businesses are important. Research has shown that entrepreneurship builds confidence, strengthens advocacy for families and communities, and contributes to the character of the places we all call home. Small business owners are the hidden culture builders in our world and are in desperate need of support and recognition.
So yes, let’s celebrate and shop local this Small Business Saturday. It matters. And just as importantly, let’s carry that into every day of the year. Let’s ensure that our work, our communities, and our small businesses can not only survive, but thrive.
About the author
Joe Sky-Tucker
(jO sky-tuck-ER)
Joe Sky-Tucker has over thirty years of experience working in the nonprofit world in a variety of positions and organizations, including direct experience working with “at-risk” youth and families in crisis, fund development, and strategic planning. He has also worked with “at-risk” youth in mental health settings, including foster care youth, children in locked psychiatric settings, and group homes. Further, he has worked to ensure hardworking families have access to safe, fair, and affordable financial services.
Currently, Joe is the President and CEO of Business Impact NW, an asset-building/community lender that specializes in supporting small and micro-businesses, helping them achieve financial stability through technical assistance and lending services. Joe has a Master’s in Social Work from the University of Washington.