An article published in Tribune Business Weekly salutes small businesses and their investments in the community that help not only fuel the economy, but also stabilize it in economic downturns. The entire article makes bold remarks in support of the small business. Some of the stated statistics made us feel proud as a small business owner, and we'd like to pass it along to you in hopes that you may also find them interesting and encouraging.
- "The backbone of the U.S. economy is not made up of stocks and bonds and large employers. The vital component that supports our economic health is small business."
- "According to the U.S. Department of Commerce, small businesses have accounted for 64 percent of new employment since the mid-1990s. They employ more than half of all private sector employees and pay 44 percent of total U.S. private payroll."
- Small businesses are "innovators, producing 13 times more patents per employee than large employers do."
- Phil D'Amico, director of business growth for St. Joseph County Chamber of Commerce claims, “Small business really is, especially in our region's case, the driving force of our economy.”
- D'Amico also states, "not only do small businesses strengthen the local economy, they also contribute significantly to the strength of the community as a whole."
- Small businesses create 80% of the jobs in St. Joseph County, with the exception of government and schools.
Congratulations to you small business owners!
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