Small Business Saturday celebrates its 10-year anniversary this week on November 30. It was created to encourage people to shop small and bring more holiday shopping to small businesses. Why? Because for every dollar spent at a small business in the United States, approximately 67 cents stays in the local community.
The following numbers prove the importance of small businesses to the United States economy:
- There are 2 million small businesses in this country, and they comprise 99.9 percent of all U.S. companies.
- Small businesses employ 58.9 million people; this number makes up 47.5 percent of the country’s total employee workforce.
- The U.S. Small Business Administration (SBA) reports that smaller companies (those with fewer than 500 employees) account for more than two-thirds of all new jobs created since the 1970s.
- Approximately 91 percent of Americans patronize a small business at least once a week.
There are other benefits small businesses offer, including superior product specialization, reduced red tape and engaged employees. Customized customer service plays an essential role, too.
Unlike many larger companies, small businesses are able to focus on a specific or targeted suite of products or services. They concentrate on developing the strengths of their core business and can become specialists in their field or industry. By filling a niche market, small businesses attend to a fixed set of customer needs.
Industry changes often affect large companies more because they’re not able to adapt to them as quickly or easily. Most big corporations have multiple layers of management. Therefore, any changes to a product or service must be approved by various departments. Conversely, small businesses are better able to adapt to market trends that affect their product or service.
Employees of small businesses usually are responsible for more tasks than those at a company with hundreds or even thousands of employees. However, this exposes them to various facets of the company for which they work. It also contributes to enhanced business management skills and an increased feeling of ownership in the product or service. Often, quality monitoring ranks higher on the scale of importance for small businesses. Because of this, attention to detail typically increases.
Small business owners contribute to the community where they’re based. Doing business with them means your supporting the economy of your community and surrounding areas. In addition, customers often communicate directly with the business owner and receive more specialized and personalized attention. Small business owners are, for the most part, experts in their line of business and share that knowledge through their products or service.
Dynamic Transit – Dedicated to Our Employees and Customers
At Dynamic Transit, we strive to treat drivers better than any other trucking company in the industry and provide exceptional service to our clients. We support the communities in which we serve and ask you to do the same! Contact us to learn more about the Dynamic difference.