Small Businesses Make the World Go Round

When it comes to business, it is almost always the big, international companies that get all the recognition, always Apple, Google, McDonald’s, etc. that people are talking about. This does not come as a big surprise, especially because these brands have spent billions of dollars towards building their identities and ensuring that they become household names that people all over the world can recognize. Despite all the attention, however, it is not only these brand giants that move the economy; after all, the majority of businesses in the US are small establishments, and this is where a good part of money flow takes place. For a great small business year in 2013, let us look more closely at small businesses and how they make the world go round.

How small is small?

 

As far as size, many would be surprised at how big “small businesses” can actually be. By definition, a small business is any business that has 500 employees or less, which can be anything from a quaint little shop on the street to a booming office that has a nationwide and even global reach. From this, it’s obvious that just because it’s called a “small business” doesn’t mean it is any less powerful and influential than a big company. And what they lack in size, they more than make up for in more effective teams as well as a better familiarity and rapport with its customer base.

How important are small businesses?

  • More jobs.
    According to the U.S. Small Business Administration (SBA), small businesses represent 99.7 percent of all employer firms and have, since 1995, generated 64 percent of new jobs. This is yet another testament to just how crucial they are to the smooth flow of the economy and to the stable life of the people. Without small businesses, it is a wonder just how many people will be left jobless as well as how bad a place the economy is going to be in. Important? More than just a bit. 
  • Local emergency assistance.

    When disaster strikes, it usually does so only in smaller, more concentrated areas. And when they do happen, other places are very quick to offer their assistance. However, sometimes the most precious and most timely help come from the local small businesses, especially when it seems that it is “every man for himself” after the calamity. In fact, it’s not only big companies that have emergency funds and supplies for these very situations; small businesses have them, too.

  • Growth.
    Small as a business is, there is no telling that it will not eventually grow to become a multinational giant. It is this potential for growth that marks another reason why small businesses are really important, for the U.S. and for any other country in general. While only a select few businesses can overcome the odds and rise up to become forerunners in their chosen market(s), it is this intense competition that keeps things alive and kicking. After all, everything starts out small and with the desire to become bigger and more successful can come great rewards.

    Small businesses are as crucial as they are plentiful, and just as there are countless small businesses, there are as many reasons to be grateful of them. It is crucial for a great 2013 in small business to understand this fact, and having realized this, the possibilities for success become endless as well.

 

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