Small Business — Big Impact

I hope you had a chance to celebrate National Small Business Week this year, held from May 4-8. This is the 52nd annual occurrence of this event. President Obama’s official statement said in part, “America’s small businesses are the backbone of our economy. More than that, our small businesses represent what is best about America — that with hard work and ingenuity, anyone — no matter their background — can build a better future for themselves and their families.”

To commemorate National Small Business Week, the U.S. Small Business Administration hosted events giving us many ways to be involved and educated through live events, webinars, and social media, while recognizing the contributions of small businesses across the country.

The SBA’s theme was “Dream Big, Start Small,” emphasizing the growth and innovation that has launched many small businesses to success. I would like to replace that trendy theme with a more wide-ranging and inclusive one. I believe small businesses may dream in any dimension they select. The news is already filled with the activities, good and bad, of multi-billion dollar market-cap big businesses.

My proposed theme, “It is not necessary, and for many, not preferred, to reach for or achieve “billion-dollar-big” to be a gigantic success; we possess a broader definition of successful.” (Not quite as catchy, but I prefer genuine over popular). In addition, as you will see below, 99.7 percent of all businesses operate quite contentedly at revenue levels that allow us to still breathe air.

For small business owners, National Small Business Week is a time to come together with colleagues to share your stories, recognize achievements, and encourage communities to support local businesses.

The SBA may have the national stage during this week, but the real champions of engaging and assisting small businesses are our regional Chambers of Commerce. They too provided networking events, educational sessions, and digital and social media advances, while also recognizing the success and community impact of their members.

The governing, managing and administrative teams on our Chambers are the unsung heroes for all of us who benefit from their efforts. Their commitment to professionalism and excellence, dedication to service for their members is surpassed only by their genuine desire to help each business achieve its goals. If you have not taken advantage of Chamber of Commerce membership, give it a try. I think you will like the experiences and outcomes.

A thought on the future of entrepreneurship

"I predict there is going to be resurgence in small business formation as Americans get back to their entrepreneurial spirit. Millennials, in particular, are going to embrace owning their own business as they realize the freedom it offers and reject the more stringent corporate world [to] create their own wealth." — Cody Gunn, president, Gunn Capital Management

Small Business Facts & Data

According to census data, there are approximately 5.68 million employer firms in the U.S.  Firms with fewer than 500 workers accounted for 99.7 percent of those 5.68 million businesses. Firms with less than 20 workers made up 89.8 percent of those 5.68 million businesses. U.S. small businesses employed about half or 56.1 million of the nation’s private workforce in 2012. Small businesses create about two of every three new jobs in the U.S. Nationally, small businesses created 2,175,253 net new jobs in 2012. Small businesses produce over 15 times more patents per employee than large firms do.  Of the 304,867 firms exporting goods in 2012 from the U.S., 297,995, or 97.7 percent, were small firms. (Small Business & Entrepreneurship Council, and SBA); (Source: ITA)

Thank you to my small business colleagues; America’s economy could not do it without you. You should be very proud.

William Kreider is the founder and CEO of HR Future Group, a firm that offers a full service suite of human capital management services for small businesses. From Transformational HR Outsourcing, Compensation, Leadership Coaching, Talent Acquisition and other HCM consulting services to Cloud-based Payroll, HRIS, Time & Attendance, and Benefit Administration, HR Future can assist your business. Mr. Kreider has significant executive experience in all areas within the HR profession in a variety of industries. For more information, please email him at or call 610.584.2467.