Small businesses drive local — and global — economy

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When you think about your favorite local businesses, whatever comes to mind — restaurants, retail shops, service providers — there’s a good chance the place you picture is a small business.

Small businesses are the lifeblood of our communities. The Small Business Administration touts that more than half of Americans either own or work for a small business, and those companies create about two out of every three new jobs each year.

This week marked a nationwide celebration of Small Business Week — a good reminder to support small businesses on the local level to keep our economy moving forward. These are the very businesses that help local communities thrive.

National figures reveal a solid trend, with the Small Business Optimism Index at a “historically strong” 101. 8 in the first quarter of 2019. Locally or nationally, small business entrepreneurs and their employees play a critical role in positive economic growth.

Contrast that with the behemoth corporations for which cities and states swoon and court with taxpayer dollars. The small businesses you interact with most might be your favorite place to get a pizza, or the hardware store that always lends expertise, or a pharmacist who takes the time to make sure you understand a prescription. Those are the traits that ingratiate our small businesses to us locally.

Taken as a whole, however, the contributions of small businesses on a national scale are so much more.

As these companies work hard to grow their business, serve customers, drive innovation and create the jobs of tomorrow, small businesses are advancing our ability to compete in a global economy. Salute a small business this week — and every week.

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