National Small Business Week to Run from May 1-7, SBA Announces

Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) has announced the 2022 edition of the National Small Business Week (NSBW) will run from May 1–7 this year. This year’s NSBW will run under the theme ‘Building a Better America Through Entrepreneurship’ and solicit support for America’s 32.5 million small businesses.

National Small Business Week 2022 Announced

This year’s celebrations will include a four-day virtual summit in partnership with SCORE to acknowledge small businesses from across the country for their resilience, ingenuity, and creativity. In addition, events will be organized to recognize SBA partners for their support of entrepreneurial development, disaster recovery, government contracting, financial development, and others.

“This year’s NSBW will offer entrepreneurs in rural, suburban, and urban communities across America a week-long event that will highlight the tools and information they need to continue to power our economic growth, strengthen our supply chains, and deliver the products and services Americans depend on every day”, said Administrator Guzman.

What is NSBW all About?

Since 1963, NSBW recognizes the contributions of America’s entrepreneurs and small business owners. The weeklong event is considered one of the most important events for recognizing the contribution of small businesses in the U.S. It is more than just a chance for entrepreneurs to meet and interact but also an opportunity for them to come together to jointly address the challenges they face.

As such over 10 awards are up for grabs among small businesses in various categories during the National Small Business Week Awards. Nominations for the awards closed on January 11, 2022, to recognize the achievements of SBA-assisted small businesses and the contributions they have made to their communities and our nation’s economy.

Among the awards include the coveted Small Business Person of the Year. In which a business or owner from each of the 50 states, will be selected for the State Winner award. The state award winners will compete for the title of National Small Business Person of the Year, SBA’s signature award.

Small Business Contribution to the US Economy

Small businesses in America are defined as independent businesses that have fewer than 500 employees and include family-owned restaurants, mom-and-pop shops, local record stores venues, nail salons, spas, and more. The United States is home to 32.5 million small businesses representing 99.9 percent of all businesses. Some 50% of all small businesses operate from home with small businesses accounting for 44% of US economic activity.

Over 60 million employees constitute 48.6 percent of the total private workforce, and small businesses created 1.6 million new jobs in 2019. Last year saw an increase in the number of applications to start companies. 2021 saw 5.4 million applications, a 53 percent increase over 2019 pre-pandemic figures.

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This article, "National Small Business Week to Run from May 1-7, SBA Announces" was first published on Small Business Trends