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Public Statements

Small Businesses, the Backbone of the American Economy


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This Saturday, November 30th is Small Business Saturday, when we can all show the power of the local dollar by shopping at a small business and contributing to our local economy.

Small businesses are the backbone of the American economy and the cornerstones of our Nation's promise. In fact, today over half of America's workers either own or work for a small business, and small businesses have generated 64 percent of net new jobs over the past 15 years. Small businesses create two out of every three new jobs in America, and are helping spur economic development in communities across our country and giving millions of families and individuals the opportunity to achieve the American dream. So next time you shop in your local small business, you know you are contributing to your local economy, and to our nation's economy overall.

Last year, 69.7 million people shopped on Small Business Saturday, and they did so because of the awareness of people like you. It is estimated that $5.5 billion in sales was generated to independently-owned small businesses last year, and this year, with your help, we can do even better.

- See more at: http://blog.hud.gov/#sthash.p21kXBtR.dpuf

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