The US Small Business Week is set to begin on Sunday, April 24, as the country celebrates and recognizes the contributions of small businesses and their owners to the US economy. Since its inception in 1963, small businesses have played a crucial role in shaping the American economy, with most manufacturing companies employing fewer than 500 employees and non-manufacturing companies generating annual revenue below $7.5 million considered small businesses.
President Joe Biden has recognized the importance of small businesses in a proclamation, acknowledging their role as the engine of the economy, providing employment opportunities for nearly half of private sector workers and contributing to every industry. To support these vital entities, Biden emphasized the need for continued efforts to help them grow and thrive.
The Bloomington Chamber of Commerce also recognizes the significance of small businesses in its community. With over 870 member businesses, including 80 percent being small businesses themselves, they play a critical role in making Bloomington vibrant by circulating money back into the local economy.
To celebrate National Small Business Week, the US Small Business Administration will host a virtual summit on April 30 and May 1. The event is open to both established and aspiring business owners and is co-sponsored by companies like Visa, T-Mobile, and Amazon. The summit will feature sessions on topics such as starting a food truck business, running a successful business, and networking opportunities. To attend this free event, registration can be completed on the US SBA website.
