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May
Featured
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SMALL BUSINESS MONTH – MAY 2024

United States
 * History
 * Timeline
 * FAQs
 * Importance
 * Celebrate

Small Business Month, celebrated in May every year, is a special tribute to
celebrate small businesses, their courage, community efforts, and hard work for
an entire month! Did you know that small businesses are the backbone of the
United States? Yes, according to a 2020 study by the U.S. Small Business
Administration (S.B.A.), there are 31.7 million small businesses in the United
States. So, as you can see, these small businesses that are the backbone of the
United States economy are the unsung heroes of the American Dream.


HISTORY OF SMALL BUSINESS MONTH

Small Business Month is a special celebration month created by the Small
Business Administration (S.B.A.) to celebrate small businesses. S.B.A. is an
organization that helps small business owners and entrepreneurs pursue the
American dream. It is a federal agency that is dedicated to small businesses and
provides counseling, capital, and contracting expertise for small businesses.

Initially, the celebration only lasted a week, but this changed when the City of
Charlotte began celebrating it for a month instead of a week. The City of
Charlotte and its small business resource partners declared May as Small
Business Month with an official proclamation by Mayor Vi Lyes. This celebration
aims to recognize our community’s entrepreneurial spirit and honor all small
businesses and entrepreneurs who play a crucial role in strengthening the
economy.

During Small Business Month, small business owners and people who support small
businesses celebrate their community’s entrepreneurial ecosystem with award
ceremonies, seminars, networking events, trade shows, and more. These
celebrations bring together entrepreneurs and prospective entrepreneurs at
conferences, workshops, luncheons, and trade fairs across the nation. All we
need to do is to support them and stand by their side.

Today, with competition increasing rapidly in the business ecosystem, small
business owners are struggling to keep up with the big businesses for survival.
This Small Business Month will be a great morale booster for small businesses as
it sheds light on them for 31 days. So, let’s support small businesses and
strengthen the economy!


SMALL BUSINESS MONTH TIMELINE

1600s
Small Businesses Develop

Small businesses begin to boom and develop across the United States.


1953
The S.B.A. is Born

The federal government of the U.S. establishes the Small Business
Administration.


1980s
Entrepreneurship Booms Across the Nation

People across the nation express great interest in entrepreneurship and build
start-ups.


2020s
Small Businesses Take the Front Seat

People across the nation begin to support small businesses and opt for
locally-made products.






SMALL BUSINESS MONTH FAQS


WHAT ARE THE EXAMPLES OF SMALL BUSINESSES?

Some examples of small businesses include baking businesses, online selling,
food cart, street food businesses, detergent soap business, rice retailing
businesses, and photography businesses.


WHY DO PEOPLE OPEN A SMALL BUSINESS?

According to recent polls, most people who opened their own businesses said that
the biggest reason and motivation for opening small businesses is being their
own boss.


WHY DO MOST SMALL BUSINESSES FAIL?

The most common reason why most small businesses fail in their first few years
is a lack of market demand. Other reasons might include lack of funds and high
competition.


SMALL BUSINESS MONTH ACTIVITIES


 1. SAY THANKS
    
    The best thing you can do to celebrate Small Business Month is to spread
    awareness and appreciation for small businesses. Take a moment to thank them
    and show your appreciation.


 2. INVEST AND PARTNER
    
    One of the impactful ways in which you can help small businesses is by
    investing in their business and helping them grow. If you already own a
    small business, you can even partner with them.


 3. SHARE YOUR STORY
    
    If you’re someone who started their own business, don’t keep your story a
    secret. Share your story with other budding business owners and help them
    succeed in life.





5 COOL FACTS ABOUT SMALL BUSINESSES THAT YOU SHOULD KNOW


 1. THE NUMBERS DON’T LIE
    
    Small businesses account for 99.9% of all U.S. businesses.


 2. THEY PROVIDE A LOT OF JOBS
    
    Small businesses create 1.5 million jobs annually.


 3. A ONE-MAN ARMY
    
    About 70% of small businesses are owned and operated by a single person.


 4. IT’S AS FAST AS THAT
    
    It takes just six days to start a business in the U.S.


 5. IT’S A COMPETITIVE WORLD
    
    Only 50% of small businesses survive for the first five years.


WHY WE LOVE SMALL BUSINESS MONTH


 1. WE NEED THIS DAY
    
    Small Business Month is a much-needed holiday that spreads awareness about
    the importance and benefits of small businesses. By observing this day, we
    help millions of hard-working people.


 2. IT SPREADS POSITIVITY
    
    Small Business Month encourages people to buy and interact more with small
    businesses. This opens up new avenues of positivity and opportunities for
    all parties involved.


 3. IT IS A BOOST-UP
    
    The past few years have been significant for small businesses as many
    entrepreneurs started their own businesses. This Small Business Month will
    be a great boost for the owners.


SMALL BUSINESS MONTH DATES

YearDateDay2024May 1Wednesday2025May 1Thursday2026May 1Friday2027May
1Saturday2028May 1Monday

Apr
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Jun

SunMonTueWedThuFriSat 
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8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
 

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