Many people have dreams of landing a prestigious job in a large, nationally recognized corporation. While this is a very respectful goal, never underestimate the power of small businesses and how valuable they are to the economy. Currently, there are about 28 million small businesses in the United States which together employ over 56 million workers.
Truly, there is nothing “small” when it comes to the benefits that they bring to our local and national economies. Below are some examples:
1. Create Jobs – According to the Small Business Administration, out of the 3 million private sector jobs created in the year 2014, two million of them were generated from small businesses. Entrepreneurs are a huge driving force for our economy.
2. Environment for Creative Thinking – Did you know that small businesses earn 13 to 14 more patents per year than large corporations? Small businesses tend to attract talent that is highly creative and innovative.
3. Community Growth – Small businesses often create loyal customers. These customers continue to give them business even in a tough economy. More local business generates more tax revenue and benefits the community in a vital way.
4. Stay Local – When customers are loyal to small businesses and more taxes are generated, portions of these taxes are distributed to the local police and fire departments as well as schools.
5. Support Large Corporations – Large corporations often call on small businesses to outsource certain jobs. Either the corporation doesn’t want to focus on that particular job or they too are aware of all the creative talent in the small business model.
6. Significant Role in Exports – Small businesses make up ninety-seven percent of exporters in the U.S., and the products they ship around the world make up twenty-six percent of total export value.
Perhaps you are considering starting a small business of your own! At Maxfilings, we can help guide you through this process. Read this article and many others in our blog and knowledge center to learn how you should get started.
Or feel free to inquire about our services today by filling out a contact form.