Small Businesses: Top 5 Reasons Why They Are Important

The importance of small businesses

Small businesses owned by local community members have always been a cornerstone of the culture and economy of the United States. Now, more than ever, local businesses are a critically important part of our national identity and value creation.

1. Small businesses create jobs

From 1993 to 2011, small businesses created 11.8 million new jobs. That is 64% of the jobs that were created! Amazingly, during the most recent recession, small businesses created even more jobs — 67% of the jobs that were created between 2009-2011.

2. Employees at small businesses are happier

Employees are able to see how their jobs are improving the operations of the business on a daily basis. By seeing the immediate impact of their actions, small business employees go home from their jobs every day with the satisfaction of know that their work mattered!

3. Customers get personalized attention at small businesses

When customers visit small businesses, they are able to develop strong relationships with small business owners. Owners and customers start to feel like old friends, and owners learn the preferences of customers – this leads to personalized service at every visit.

4. Because they’re intimate, they understand their customers

Small business owners are interacting with their customers on a daily basis. That connection means that owners can adapt their business to serve their customers quickly and effectively.

5. They define trends!

They’re are able to move quickly and test out innovative new products for customers. Small businesses are the places where trends are created! Without them, there would be significantly fewer innovative experiences, styles, tastes, and tools available.

Source: US Small Business Administration

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