In an effort to underscore the crucial role of small businesses in the U.S. economy, the Co-Chairs of Small Business for America’s Future are rallying for increased support for Main Street this Small Business Saturday and throughout the holiday season. These advocates are urging consumers to shop small and encouraging lawmakers to implement policies that foster an environment conducive to small business growth.
Small businesses play a pivotal role, employing nearly half of America’s private sector and contributing 44% to the national GDP annually. Despite successfully navigating the challenges posed by the pandemic, entrepreneurs now face obstacles such as labor market constraints, limited access to capital, and impending federal budget negotiations. To overcome these hurdles, they need the backing of both consumers and policymakers.
This holiday season presents a unique opportunity to support local businesses that bring character, jobs, and economic vitality to communities. November and December alone account for almost 19% of annual retail sales. Interestingly, there has been a recent resurgence in small business startups, with each month in the first half of this year experiencing a growth rate of at least 15% compared to the respective month over the past four years.
To ensure the continued success of these businesses, creating a stable environment that promotes growth is essential. As the federal budget deadline looms, prompt resolution is imperative to safeguard the economic progress achieved and prevent potential fallout that could jeopardize the livelihoods of many on Main Street.
Lawmakers are also called upon to advance policies such as tax reform and paid family leave that directly bolster small businesses. Noteworthy legislation like the Inflation Reduction Act, the CHIPS and Science Act, and the Bipartisan Infrastructure Law addresses crucial expenses like health insurance and prescription drug costs, positively impacting the bottom line and facilitating the growth of Main Street.
The Co-Chairs of Small Business for America’s Future include Shaundell Newsome, Founder of Sumnu Marketing; Erika Gonzalez, M.D., CEO, President, & Founder of South Texas Allergy and Asthma Medical Professionals (STAAMP); Anne Zimmerman, CPA, Founder & Owner of Zimmerman & Co CPAs Inc.; and Walt Rowen, President of Susquehanna Glass Co. These individuals are at the forefront of advocating for policies that support small businesses and drive economic growth.
As Small Business Saturday approaches on Nov. 25 and throughout the holiday season, the call to action is clear: support Main Street, shop small, and engage with lawmakers to ensure the prosperity of the businesses that form the backbone of our communities.
