While COVID-19 may have hit them hard, experts report that small businesses make up 44 percent of U.S. economic activity and recent years have shown them to be at the front of driving innovation and economic growth.
According to the Small Business Administration, small businesses accounted for two-thirds of jobs administered and 43 percent of the U.S. GDP.
The owner of Heartship Baking Company, Elizabeth Caico says, “I love running a small business because I get to connect with so many different people.”The first way is by visiting your local farmers’ market. Businesses often pay fees to reserve booths and supporting them helps turn a payment into profit.
“Leaving good reviews if they enjoy the product, just actually just sharing, you know what I mean? That’s a big part of what my company stands for,” said Caico. Nine out of 10 people check online reviews before making a purchase. And many minority small businesses were hit especially hard by the pandemic. Black-owned businesses experienced a 41 percent drop in business. To find a minority-owned business near you, check out the Small Business Administration’s Directory.
The money you spend at small businesses goes back into your own community. Small businesses donated 250 percent more money than big businesses did to local charities and non-profit organizations.
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