The first week in May is National Small Business Week and this year the theme is “Dream Big, Start Small.” This week is an opportunity to not only celebrate small businesses, but to take some time to fully appreciate the critical contributions that they make in our community.   

According to the U.S. Small Business Administration, small businesses are the “heart of the American economy." Nationwide, there are over 28 million small business employing 60 million Americans (half of the private sector workforce). Of these, 7.8 million are owned by women and 3.7 million are owned by veterans.  

In Florida, we have 2.2 million small businesses employing over 3 million workers. These firms make up almost 99 percent of all employers in the state. These 3 million workers comprise roughly 40 percent of the state’s private workforce. While the U.S. Small Business Administration defines a small business as a firm with fewer than 500 employees, Florida’s businesses with fewer than 100 employees maintain the largest share of employment. Florida’s small businesses create two out of every three jobs.

The impact of small businesses is even more evident here in the Sarasota area. Ninety percent of the Greater Sarasota Chamber of Commerce members have less than 50 employees. Eighty percent have less than 20 employees and the majority employ less than 10 workers. Our own economy is dependent on these small businesses to plan our community, supply entrepreneurial talent, generate retail, provide services and a host of other innovative contributions within our marketplace.   

Recently, the Florida Chamber released their Small Business Index Survey showing that 54 percent of small businesses expect to hire over the next six months. Fifty-three percent are planning to increase investments in equipment or structure.

Florida’s small businesses are optimistic about our state and the economy. Roughly 60 percent of respondents to the Florida Chamber’s survey expect to see the economy continue to improve during the next year. Half of the respondents indicated higher sales over the previous year.  

However, challenges remain for small businesses with uncertainty about the economy, concerns about workforce quality, access to capital and government regulations. This is why our Chamber advocates for pro-business policies and works to ensure educational attainment and strong workforce development.  

Next time you drive by a ballpark or a school, look at all of the sponsoring business banners tied to the fences. Most of those banners represent a small business that donates their time, energy and finances to enhance our community’s quality of life.

Even though Small Business Week does not begin until May 1, don’t wait until May to support and thank our area small businesses. These businesses, our neighbors, are certainly dreaming big and starting small.