It’s often said that small businesses are the backbone of our economy. But is there any truth to that? If you haven’t figured it out by now, yes-small businesses are a big deal.
Bringing growth to local economies and warmth to the hearts of communities, small businesses are something to be celebrated.
When consumers shell out their money to a local business, they are essentially adding their money back to the community. Small businesses pay local and oftentimes higher taxes which are circulated back into the community.
Small businesses also hold a unique advantage in an ever-changing economy due to the fact that customers hold their loyalty to a high standard. They love to support their local eateries and stores which allows businesses to flourish during tough times.
Oh yeah, and they’re hiring. Small businesses have produced over half of the new jobs since 1995 while large corporations have actually slashed millions of jobs.
With the addition of these jobs comes more opportunities to boost charity spirit. Sure, small business owners take pride in developing their passion into profit, but they are also philanthropic. From raising awareness of certain causes to actually collecting monetary donations, small businesses’ generosity as a whole is commendable.
Every year, the Saturday after Thanksgiving serves as the national platform to celebrate these small businesses. Patrons are encouraged to shop small and flood local businesses with their support. The shopping holiday has gained much traction since its conception in 2010, sprouting relationships with retailers such as Etsy and recognition from political leaders.
American Express has continually made it easy for small businesses to really cash in on this established shopping holiday by providing free marketing materials as well as a dedicated website with a push for neighborhoods to get involved.
Convinced about the big impact of small businesses yet? The numbers don’t lie. The following infographic highlights some of the facts and figures that further prove just how important small businesses really are.
The Big Influence of Small Business | Infographic created by PrimePay.com
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