The happenings "inside" the Wisconsin State Treasury and across the street at the State Capitol

It’s the Most Wonderful Time of the Year


The leaves have fallen, temperatures are dropping, and once again, “Black Friday” is upon us. As most of you are aware, Black Friday takes place the day after Thanksgiving, and is both the unofficial kickoff of the holiday shopping season and one of the busiest shopping days of the year. As we get caught up in the hustle and bustle of holiday shopping, it’s important that we take the time to appreciate the impact of small businesses on our communities and on our lifestyles.

Tomorrow, November 26, is the 2nd annual “Small Business Saturday“, an effort by American Express to encourage us to shop at small businesses during this critical time of year. In addition to supporting smal businesses with your purchases tomorrow, I’d encourage everyone to read and share the following statistics with their friends and family. It’s important tat we  remember just how much small businesses contribute to our economy.

Small firms:
•    Represent 99.7 percent of all employer firms.
•    Employ half of all private sector employees.
•    Pay 44 percent of total U.S. private payroll.
•    Generated 65 percent of net new jobs over the past 17 years.
•    Create more than half of the nonfarm private GDP.
•    Hire 43 percent of high tech workers ( scientists, engineers, computer programmers, and others).
•    Are 52 percent home-based and 2 percent franchises.
•    Made up 97.5 percent of all identified exporters and produced 31 percent of export value in FY 2008.
•    Produce 13 times more patents per employee than large patenting firms.

Source: U.S. Dept. of Commerce, Census Bureau and Intl. Trade Admin.; Advocacy-funded research by Kathryn Kobe, 2007 (www.sba.gov/advo/research/rs299.pdf) and CHI Research, 2003 (www.sba.gov/advo/research/rs225.pdf);U.S. Dept. of Labor, Bureau of Labor Statistics.

Are you looking to start a small business? The Wisconsin Women’s Business Initiative Corporation provides many great tools for women and minorities looking to start a small business in Wisconsin. If you’re interested in getting started, check out their calendar of classes- 16 between now and Christmas – that will teach you about topics like business certification, credit score improvement, budgeting, Quickbooks, and many more.

Related Reading:

Wisconsin Women’s Business Initiative Corporation

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One response

  1. Pingback: It's the Most Wonderful Time of the Year « wistatetreasury

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