President’s Corner History of Small Business Month – The Unsung Heroes of the American Dream Dear Reader: 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 (SBA), 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 are the unsung heroes of the American Dream. Some examples of small businesses include baking businesses, online selling, food carts, street food businesses, retailing businesses, and photography businesses. Small Business Month is a special celebration month created by the SBA to honor small businesses. SBA 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. 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. 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. The most common reason why most businesses fail in their first few years is a lack of market demand. Other reasons might include lack of funds and high competition. So, let’s support small businesses and strengthen the economy! Small Business Month activities you can do: 1. Say Thanks – 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. 2. Invest and Partner – One of the impactful ways in which you can helps 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. 3. 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. Submit your story to The Acumen. Dr. Angelic Cole President & CEO Colorado Black Chamber of Commerce “First, think. Second, believe. Third, dream. And finally, dare.” Walt Disney, Entrepreneur, Animator, Voice Actor and Film Producer
5 The Acumen
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