Small Business Month, celebrated in May every year, is a special tribute to celebrate small businesses, their courage, community efforts, and hard work for an entire month! Did you know that small businesses are the backbone of the United States? Yes, according to a 2020 study by the U.S. Small Business Administration (S.B.A.), there are 31.7 million small businesses in the United States. So, as you can see, these small businesses that are the backbone of the United States economy are the unsung heroes of the American Dream.
History of Small Business Month
Small Business Month is a special celebration month created by the Small Business Administration (S.B.A.) to celebrate small businesses. S.B.A. is an organization that helps small business owners and entrepreneurs pursue the American dream. It is a federal agency that is dedicated to small businesses and provides counseling, capital, and contracting expertise for small businesses.
Initially, the celebration only lasted a week, but this changed when the City of Charlotte began celebrating it for a month instead of a week. The City of Charlotte and its small business resource partners declared May as Small Business Month with an official proclamation by Mayor Vi Lyes. This celebration aims to recognize our community’s entrepreneurial spirit and honor all small businesses and entrepreneurs who play a crucial role in strengthening the economy.
During Small Business Month, small business owners and people who support small businesses celebrate their community’s entrepreneurial ecosystem with award ceremonies, seminars, networking events, trade shows, and more. These celebrations bring together entrepreneurs and prospective entrepreneurs at conferences, workshops, luncheons, and trade fairs across the nation. All we need to do is to support them and stand by their side.
Today, with competition increasing rapidly in the business ecosystem, small business owners are struggling to keep up with the big businesses for survival. This Small Business Month will be a great morale booster for small businesses as it sheds light on them for 31 days. So, let’s support small businesses and strengthen the economy!
Small Business Month timeline
Small businesses begin to boom and develop across the United States.
The federal government of the U.S. establishes the Small Business Administration.
People across the nation express great interest in entrepreneurship and build start-ups.
People across the nation begin to support small businesses and opt for locally-made products.
Small Business Month FAQs
What are the examples of small businesses?
Some examples of small businesses include baking businesses, online selling, food cart, street food businesses, detergent soap business, rice retailing businesses, and photography businesses.
Why do people open a small business?
According to recent polls, most people who opened their own businesses said that the biggest reason and motivation for opening small businesses is being their own boss.
Why do most small businesses fail?
The most common reason why most small businesses fail in their first few years is a lack of market demand. Other reasons might include lack of funds and high competition.
Small Business Month Activities
The best thing you can do to celebrate Small Business Month is to spread awareness and appreciation for small businesses. Take a moment to thank them and show your appreciation.
Invest and partner
One of the impactful ways in which you can help small businesses is by investing in their business and helping them grow. If you already own a small business, you can even partner with them.
Share your story
If you’re someone who started their own business, don’t keep your story a secret. Share your story with other budding business owners and help them succeed in life.
5 Cool Facts About Small Businesses That You Should Know
The numbers don’t lie
Small businesses account for 99.9% of all U.S. businesses.
They provide a lot of jobs
Small businesses create 1.5 million jobs annually.
A one-man army
About 70% of small businesses are owned and operated by a single person.
It’s as fast as that
It takes just six days to start a business in the U.S.
It’s a competitive world
Only 50% of small businesses survive for the first five years.
Why We Love Small Business Month
We need this day
Small Business Month is a much-needed holiday that spreads awareness about the importance and benefits of small businesses. By observing this day, we help millions of hard-working people.
It spreads positivity
Small Business Month encourages people to buy and interact more with small businesses. This opens up new avenues of positivity and opportunities for all parties involved.
It is a boost-up
The past few years have been significant for small businesses as many entrepreneurs started their own businesses. This Small Business Month will be a great boost for the owners.
Small Business Month dates