Celebrating Small Businesses
Wednesday, May 01, 2019
Small businesses have an oversized impact on the economy. According to the Small Business Administration, two out of three new jobs in the private sector from 2000-2017 were created by small firms.
May 5–11 is National Small Business Week across America. It’s an excellent time to reflect on the ways hardworking entrepreneurs and small business owners lift up our local economies.
South Dakota has a wealth of dedicated and creative small business owners who contribute to the vibrancy and character of our communities, while employing local residents. Locally owned businesses help to define our communities. They improve our quality of life.
Small businesses also make communities an enjoyable place to visit. Visitors enjoy patronizing quality family-owned restaurants and unique specialty shops in towns across the state. We have small business owners to thank for that.
GROW South Dakota offers business financing
Because small businesses have a big impact, GROW SD, with our regional and state partners, offers business loans for companies statewide.
For 40 years, entrepreneurs and existing businesses have benefitted from our business lending program. GROW SD has financed more than $77.9 million in business loans, which resulted in 13,120 jobs.
Borrowers also have access to valuable ongoing one-on-one consulting from GROW SD staff for issues like cash flow, sales analysis, pricing, marketing and customer service.
For more information regarding GROW South Dakota’s business financing call (605) 698-7654, visit www.growsd.org.
How you can support small businesses
During National Small Business Week and beyond, local companies deserve our appreciation and support. You can show your support by being thoughtful about your purchases all year round.
It's as simple as choosing to spend your dollars at local businesses when possible. Instead of dining out at a chain restaurant, spend your dollars at locally owned cafés and restaurants. Instead of shopping at a big box store, visit a local boutique or gift shop to buy gifts for your friends and family.
When added up across our population, these small daily decisions can make a significant impact on the amount of revenue that mom and pop businesses generate in a given year. It’s important for us all to make active choices to keep money within our communities, where local businesses are creating local jobs and giving back.
Thank you to all our small business owners
We want to send a huge thank you to the small businesses that enhance our communities and make them a wonderful place to live and work. Your contributions are invaluable.
For more information on National Small Business Week, click here.
The Small Business Administration is offering a free virtual conference where small business owners can network and access expert advice. Learn more.