National Small Business week kicked off yesterday at a time when small business optimism and success is at its highest levels and unemployment is at record lows.
The latest Wells Fargo/Gallup Small Business Index shows small businesses matching the highest level of business conditions in the 15-year history of the survey, following a dip earlier this year that’s been attributed to the government shutdown.
The NFIB Small Business Optimism Index increased in March despite being at an already historically strong level. “Overall, the Index anticipates solid growth, keeping the economy at ‘full employment’ with no signs of a recession in the near term,” NFIB stated in April.
The economy has continued to grow steadily thanks in no small part to the nation’s 30 million small businesses and the 59 million people they employ. What’s not as easy to measure, but no less significant, is the energy, the innovation and the sense of community that small businesses contribute.
“This week, we celebrate the pioneering spirit, creativity, and determination upon which America has always been built,” said President Donald Trump in a proclamation issued Friday. “This undaunted conviction drives our entrepreneurs and small business owners, whose hard work and perseverance give our Nation economic strength. Their initiative, combined with the greatest workforce in the world, is enabling us to convert the unlimited potential of America into great wealth and prosperity.”
The Small Business Administration is celebrating with a virtual conference starting tomorrow and various “small business of the year” awards.
In New Jersey, some companies are getting into the spirit of things. The accounting firm SKC & Co. CPAs is highlighting small business’ contributions on its Facebook page.
“SKC proudly honors our many amazing clients every week of the year, but especially during National Small Business Week!” the company said in its first post. “We’re looking forward to sharing some great information and highlights with you. Congratulations to all of our innovative, determined, hardworking clients! And, just for the record…there’s nothing ‘small’ about small business!”
NJBIA President and CEO Michele Siekerka said Small Business Week is especially important to the association because small businesses make up such a large portion of its membership.
“Small businesses in New Jersey are simply amazing,” Siekerka said. “They find ways to compete nationally and internationally despite operating in one of the highest-cost states in the nation. We all owe a debt of gratitude to them for the jobs they provide and the communities they support.”