Submitted by Patrick
This month we celebrate National Small Business Week. Small business has been called the Engine of our Economy. Did you know that small businesses contribute nearly $11 trillion nationwide each year. There are 27 million business in the United States, and they have created 56 million jobs. 75% of these small businesses employ five or less workers. Sounds like the Mom and Pop business owner is still a very big part of our economic landscape.
While HiPath and our subsidiaries are not Mom & Pop companies, we do want to take the time to attribute to them their due. Without them, we would all live in a different world. If you take small business out of the equation, we would eat, shop and spend our money in a dramatically different way.
HiPath is part of this new economy and we have been scratching and clawing to grow in the midst of so many industry changes. We are not alone, as a small business, as a wireless industry service provider, or as a part of the bigger economic picture. We experience our growth pains first-hand, and can feel for you as you try to keep revenues growing and bottom line results strong. Regardless of our size, we are in this together.
Many of us have taken a beating in this economy. A large number have fallen to their knees, while others hit the canvas after the final knock-out punch. While that’s the dark news, there has been a silver lining, as there always seems to be. Partly driven by the lack of jobs like the ones they lost, self-employment soared during the recent recession and sluggish recovery. Especially among minority groups.
So what can we do together to support one another in this business climate? Here are a few suggestions:
Everyone must do their part. Ask yourself this question, “What did I do to make a local economic impact”? While I needed to cut back due to budgetary constraints, did I spend some of my discretionary income locally? Did I maintain or continue relationships with those that loyally served us in the past? Once you have considered these things, step out and make something happen. Every little bit helps, especially when it is done timely.
Support some of these new entrepreneurs. We don’t need to spend money to help some of these newbies. We have other resources available to us, like experience, education, time, etc. Many of these new business owners could use our expertise, time, talents. We benefit greatly from the mentorship of those who have blazed the path before us. We do the same for those behind us.
Volunteer with organizations that support small business. There is a plethora or organizations that exist to support small business. In Arizona we have ASBA (Arizona Small Business Association), SBDC (Small Business Development Center), SCORE (Senior Core of Retired Executives), etc. Each has their area or specialty, so meet with them to see if your skills and expertise is a match for their needs. Consider finding these groups on the web, get their contact numbers, and call them today.
Encourage and Support those you know. Too often we assume those we know are okay, since they are not asking for help. This is usually a wrong assumption. More often than not they will find it difficult to ask for help, thinking this makes them seem weak or needy. While both may be true, not asking will accelerate the outcome of poor and broke. Which would you rather wish for them? Reach out and touch someone today.
Don’t forget to celebrate Memorial Day by remembering those who have fallen serving our country. Without them, we would not be here as we are, or have the freedoms we take for granted this day.
We would enjoy hearing your ideas. Feel free to share them with us a firstname.lastname@example.org.