Join the MDC in Celebrating Small Business Week
3 May 2021
Small Business Week is an opportunity to recognize the small businesses that make Midland such a vibrant and active community. From entrepreneurial energy companies to family-owned restaurants, small businesses have a big impact on our local economy. They meet needs for personalized medical care, home remodeling, filing our taxes and so much more. And, they contribute to the financial strength of our community. Midland’s small businesses are worth celebrating and you can help us to do so by visiting local businesses this week and choosing to spend your dollars at businesses who are owned by other Midland residents.
Small Business Week
The U.S. Small Business Administration (SBA) has historically held its National Small Business Week in the first week of May each year. The COVID-19 pandemic forced 2020’s event to occur in September, but many organizations are continuing the tradition of recognizing small businesses from May 2-8 in 2021.
Why celebrate small businesses?
In its 2019 Small Business Profile, the SBA Office of Advocacy indicated 59.9 million employees, or 43.7% of the entire U.S. employee workforce, worked for small businesses. And the Bureau of Labor Statistics Business Employment Dynamics indicates that from 2000 to 2018, small businesses created 9.6 million net new jobs, accounting for nearly 65% of all net new jobs in the U.S.
Promoting small businesses is an excellent way to help support a community’s overall economy. A 2018 report from American Express stated an average two-thirds of every dollar spent at small businesses in the U.S. stays in the local community and every dollar spent there creates an additional 50 cents in local business activity. As an added incentive, every ten jobs created at a local business support an additional seven jobs within the community. In other words, when you spend locally you are supporting that business and all of the local businesses they buy from. Your dollars make an outsized impact when spent at businesses owned by Midland residents.
Find Midland Businesses
To find local businesses to support this week, visit the below websites.