According to the U.S. Bureau of Labor Statistics
Posted: Sat Dec 28, 2024 3:59 am
Small businesses were responsible for 55 percent of the total net job creation in the U.S. from 2013 to 2023. According to the National Community Reinvestment Coalition (NCRC), which supports entrepreneurial efforts in low- and moderate-income areas, small businesses promote economic self-sufficiency and help reduce poverty by providing jobs to workers in their communities. When small businesses thrive in these communities, the NCRC says, they create jobs that foster “neighborhood wealth and financial stability.
” FYI The SBA and the U.S. Department of Agriculture provid united arab emirates mobile phone numbers database e government loans for entrepreneurs. Funding can get your startup off the ground or help expand your growing business in your community. 2. Small business revenue stays in local communities. Many small businesses reinvest revenues in their neighborhoods, significantly benefiting local communities. In contrast, big corporations don’t invest nearly as much money locally. Instead, they return money to shareholders or invest in other regions.
Small businesses employ local residents, directly returning some of the money they generate to community members. Additionally, small businesses often support other local small businesses as customers or suppliers. For example, a chef at an area restaurant might stop by the neighborhood farmers market to purchase fresh, homegrown produce for weekly specials and menu dishes. 3. Small businesses spark innovation. In recent years, big companies nationwide have employed the idea of thinking like a startup to prioritize innovation and gain a competitive edge.
” FYI The SBA and the U.S. Department of Agriculture provid united arab emirates mobile phone numbers database e government loans for entrepreneurs. Funding can get your startup off the ground or help expand your growing business in your community. 2. Small business revenue stays in local communities. Many small businesses reinvest revenues in their neighborhoods, significantly benefiting local communities. In contrast, big corporations don’t invest nearly as much money locally. Instead, they return money to shareholders or invest in other regions.
Small businesses employ local residents, directly returning some of the money they generate to community members. Additionally, small businesses often support other local small businesses as customers or suppliers. For example, a chef at an area restaurant might stop by the neighborhood farmers market to purchase fresh, homegrown produce for weekly specials and menu dishes. 3. Small businesses spark innovation. In recent years, big companies nationwide have employed the idea of thinking like a startup to prioritize innovation and gain a competitive edge.