Happy National Small Business Week!
Fifty years ago, President John F. Kennedy signed a proclamation declaring the first National Small Business Week. Every year since then, the sitting President has continued this tradition.
For all of us entrepreneurs out there, this is a very special week. It’s the time when the entire country recognizes and honors the contributions we make to our country’s economy. And those contributions are significant. Small businesses are the economic engine that drives the U.S. economy. We create between 60 and 80 percent of the net new jobs in our country and more than half of Americans either own or work for a small business.
This week’s festivities will take place across the country in celebration of small business week, but even with all these activities going on, it’s hard to ignore the struggles small businesses have faced these past few years. A new Constant Contact survey found that over half of all small business owners say they have been hit hard by the economy. As a result, many small businesses have been reluctant to grow their businesses.
Focus on growth
The good news is that small business owners are feeling more optimistic about the future. Over the past 12 months, 44 percent have reported that their business revenue has increased, according to the 2013 Chase Pulse of Small Business Survey. I’ve also personally started to hear more and more business owners ask the question, “Is it time to invest in growth?”
None of us can predict or control the economy, but we can control the decisions we make in our businesses. There are major economic forces affecting our economy today, and if you focus too intently on market conditions, you may miss business opportunities. Pay attention to the market, but direct your energy on your business. What can you do to enhance your customer experience? What products or services provide the greatest profitability for your business? Are there ways to improve your productivity to add to your bottom line?
Smart business strategies can help you succeed in any economy.
This week, enjoy the national spotlight. You’ve earned it. As an entrepreneur, you deserve a huge pat on the back.
Here’s to your continued success!
About the Author: Susan Solovic is THE Small Business Expert. Sign up for Susan’s Success Tips Newsletter and get your free copy of “Smart Marketing Strategies for Small Biz” ebook.