Why Small Businesses Matter
During the week of May 12th, America celebrates
National Small Business Week. The
purpose is to bring awareness to the services that the SBA offers to
entrepreneurs and to encourage consumers to patronize small businesses. I am an entrepreneur and I have a two small
businesses and a job. Please let me know if I can serve you. How
about you? Are you a small business
owner? If so, thank you being one. It is
the small businesses and entrepreneurs that are putting America back to
work. Chair Janet L. Yellen of the
Federal Reserve System recently attended the National Small Business Week Event
in Washington D.C. and had the chance to meet some outstanding entrepreneurs
who are the trend setters for everyone. After the financial crisis and the Great
Recession, the Federal Reserve became entrepreneurial and took extraordinary
steps to help stabilize the financial system once again. The Fed also made a lot of money on their
investment because of the risk they were willing to take to prevent an economic
collapse. I am not sure if many Americans
realize that the Great Financial Crisis could have been the end of our
financial system as we know it if the Fed had not acted swiftly and
courageously. Chairman Bernanke does not
get the credit he deserves. The Fed used
monetary policy tools to promote the recovery and to stimulate job creation
toward maximum employment and price stability.
Supporting asset values and lowering borrowing costs created the right
environment for job creation that lead to a stronger recovery. This was a great move and we are all
beneficiaries of the wisdom of Chairman Bernanke and the board of Governors.
Starting small yet
strong
Crucial to the process of our economic recovery from the
financial crisis is job creation in the private sector. 85% of
non-farm employment is found in the private sector, a large source of new jobs
comes from the private sector. The private sector has accounted for the
increase in employment making small businesses crucial to job creation. While
corporate America has been downsizing, the rate of small, start-up businesses
have grown.
More than half of jobs created have been generated by firms
with fewer than 250 employees since employment began growing in 2010. I know
plenty of real estate agents who have decided to join the bandwagon and create
their own team of agents and strike out to start their own firm. Starting your own business is easier said than
done, let alone the struggle to keep afloat within the first three years of
operations. But there is nothing more
satisfying than being your own boss, calling your own shots, and providing jobs
to people who need it the most. But you
have to pay to play the role of CEO. It
takes financial capital, human resources, a great business plan, a vision and
most importantly an entrepreneurial spirit. Do you have one?
The entrepreneurial
DNA
The Entrepreneurial Spirit is in a result of our national
Entrepreneurial DNA. Today, opportunities abound and are available to more
people who may not have had them in the past. In the previous year alone, more
than 200,000 businesses were opened by women while minorities in general are
opening businesses at an incredibly fast rate.
Aside from the government supporting small business through access to
funding, business chambers are providing entrepreneurial development and advocacy.
Consumers can also do their part in helping the economy by patronizing small
businesses that continue to prove that they are the backbone of the economy. There are so many great products and services
out there in our own neighborhoods that it is time we start planning to support
small business especially in our communities.
Also we need to start patronizing firms who manufacture products here in
the USA. America will be stronger if we
invest in her.
The future of small of
businesses
Small businesses deserve a considerable share of the credit
for the investment and hiring that have brought progress to the American
economy. Millions of small businesses
have collectively given enormous contributions to the nation’s prosperity which
is why the Federal Reserve pledges to continue to promote the recovery to help
Americans grow and prosper. The Federal
Government needs to continue to cut taxes for small business and simplify the
tax code. The Obama administration has
cut taxes 18 times for small businesses (a little fact that many people do not
know about) and needs to do more since Small Business is such an important part
of our economy.
National Small Business Week is a time to showcase America’s
small businesses. Furthermore, I know we can do more to increase
the number of small businesses in the United States. I am enthusiastic in our country’s ability to
create a culture of risk-takers; especially in the real estate industry. If you are a real estate broker and you have
the money and know-how, it's time to step out on your own and join the ranks of
us who only eat what we slay. I am a risk taker. Are you?
If you are thinking of starting a small business and are not sure how to
go about doing it, please contact me or comment in the section below. I would glad to be of help in any way I can. Check out the Power Is Now Power Coaching for Large and Small businesses.
References:
Comments
Post a Comment