Bigger isn’t necessarily better or more important. Here’s how small businesses help strengthen local economies.
When we check business news each day, it’s usually big companies that dominate the headlines. We see layoffs by Tesla, a contract won by Lockheed Martin, a company acquired by General Motors, or a new innovation from General Electric. It’s true that large businesses are seeing their market share increase in a wide range of industries in the wake of the COVID-19 pandemic. However, despite the relative absence of small businesses from the headlines, they drive a considerable portion of the American economy.
Small businesses are an important economic engine for both local communities and the national economy.
