by Olivia Emisar

Created on: January 27, 2011   Last Updated: January 28, 2011

Small businesses are crucial to America’s economy because they provide a variety of benefits that no multi-national corporation can provide with such immediate results.

The American public typically thinks of a small business as a family owned store that, if successful, will hire a couple of non-relatives to keep the operation going.  According to the Small Business Administration (SBA), a designation of a small business can include up to 500 employees and many of these ‘small businesses’ are chains of different businesses that operate under the umbrella of a much larger company.  In many cases, the parent company is either a multi-national corporation of a foreign entity altogether.

♦ Employment

Direct community employment by small businesses provides community growth and economic stability to residents.

The off-shoot of direct employment include increase revenue across the board to the City, County and State in the form of sales and income taxes, which in turn provide the needed financing to highly desirable services, such as fire fighters, police officers, teachers, road services, facility maintenance, construction, parks and related public places.

♦ Growth

Small businesses in America are crucial to our economic development because they provide a solid foundation upon which many other industries spring forth with new ideas and better creations. 

Only in this country could a couple of college kids working in their dad’s garage could have come up with a printer that would revolutionize the way we do business.  Hewlett and Packard are just one example of what a small business looks like and what it can become. 

Bill Gates gave us software that revolutionized how businesses do inventory and paperwork.  It all evolved to the ever-present home office which provided millions of consumers and spurred new industries to support and maintain the newly formed infrastructure.  These young, innovative entrepreneurs have also shown us that any small business can grow to become a giant in the business world.

Using Hewlett-Packard and Gate’s Microsoft as an example, we can see the off-shoot of growth these two companies have provided.

Competition to do what they do better created a company named Apple whose products were deemed to never leave the store shelves. Many years have passed since Apple introduced its first computer and the results are in: Apple is a giant business that keeps innovating

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