Celebrates the spirit of America’s small business owners and the economic opportunity entrepreneurs bring to local communities
30 million small businesses in U.S.; create 2 of 3 new jobs; employ half the workforce
Washington, DC – U.S. Senators Jim Risch (R-ID) and Ben Cardin (D-MD), Chairman and Ranking Member of the Senate Committee on Small Business and Entrepreneurship, today announced Senate passage of a bipartisan resolution recognizing April 29 - May 5, 2018 as the 55 th National Small Business Week.
The Risch/Cardin resolution celebrates the entrepreneurial spirit of America’s small business owners and the invaluable contributions they make to economic output and job creation in communities across the country.
“In Idaho and across the United States, small businesses are the backbone of local economies, creating two out of three new jobs and employing half our workforce,” said Chairman Risch. “And over the past year, small businesses have contributed to the lowest unemployment rate since 2000, the largest wage increase in eight years and rapid economic growth. This National Small Business Week, I ask all Americans to join me in recognizing their many contributions, and I encourage you to visit a small business this week.”
Senator Cardin said: “ With deep roots in their communities, small businesses are the job-creating engine of our economy and define the culture and character of our Main Streets. I am especially proud of America’s women-owned, minority-owned, and veteran-owned businesses. Our small businesses are creating innovative enterprises, positively disrupting industries, and developing new products faster than ever before. I encourage all Americans to show their appreciation for small businesses this week by grabbing a bite or shopping at your local, independently-owned business. Shopping local and buying local will help our communities all year long.”
The Risch/Cardin resolution highlights the outsized contributions of America’s 30 million small businesses to the American economy. In addition to creating 2 of every 3 new jobs, small businesses:
- Employ nearly 1/2 of the workforce;
- Comprise 99.7 percent of all employers;
- Employ veterans (9.1 percent of all small business owners served in the Armed Forces);
- Produce 1/3 of exported goods; and
- Account for nearly 1/2 of private sector output.
During the week, the U.S. Small Business Administration highlights the impact of outstanding entrepreneurs and small business owners from all 50 states and territories and their work creating 21 st century jobs, driving innovation, and increasing America’s competitiveness. Learn more at www.sba.gov/nsbw.The full text of the Risch/Cardin ‘National Small Business Week’ resolution is HERE.