Top 5 Reasons To Love Small Business

By Stefanie Neyland, Small Business Content Developer at BizLaunch.com

We’ve all heard the expression ‘good things come in small packages’, and we wholeheartedly agree with this sentiment. In celebration of national Small Business Week, we’d like to take this opportunity to appreciate the skills, achievements, and personal characteristics of small business owners. Here are just five of the reasons why we—and the rest of the nation—love and support small business.

1. Blood, Sweat and Tears

Business owners aren’t familiar with the concept of ‘nine-to-five’. They work longer hours than most, and whether they’re out for dinner, at the movies, relaxing at home or even sleeping—we can guarantee that their business is never far from their minds. Entrepreneurs are invested in their company; every customer matters to them and they’ll do whatever it takes to keep them happy. They wear many hats on a daily basis (always with a smile, of course), and as a result, they’ve become maestros in marketing, finance, customer service, sales and everything in between. For the blood, sweat and tears you’ve dedicated to your passion, business owners—we salute you!

2. Heart of the Economy

The economies worldwide may look very different, but there’s one thing they all have in common: small businesses are the key engines for growth through innovation. While SMBs may not generate as much cash as their larger counterparts, they’re a critical component of—and vital contributor to—the strength of local economies, and are partly responsible for turning our economy around and putting our financial system back on track. Not only do they provide employment opportunities to local people of all skill levels and ages, but they also account for over 98 per cent of the country’s employment.

3. No Guts, No Glory

Peter F. Drucker, the Austrian-born American author, educator and management consultant, once said: "Whenever you see a successful business, someone once made a courageous decision", and we couldn’t agree with him more. It takes both guts and fortitude to start a business—even more so when you consider that the lion’s share of small businesses are self-financed, with owners delving into their own savings, home equity and credit cards to fund their venture. People often wonder why, when the stakes are so high, entrepreneurs take the risk—and it’s a valid question with a simple answer: they take a gamble because they truly believe in their idea. They’re prepared to take the plunge because they have faith in their vision, and will do whatever they can to make their dream come to fruition. As another wise man, Wayne Gretzky, once said: “You miss 100 per cent of the shots you don’t take.”

4. Up Close and Personal

Small business owners really care about the relationships they form with their customers. They’re the face of their company, and they help build a strong sense of community by getting to know locals by name and participating in neighbourhood causes. Whether or not they have the financial edge on larger competitors, their customers return time and time again for that personal experience. They understand that trust and loyalty are of the utmost importance when growing a successful business, and it’s exactly that which sets them apart.

5. One of a Kind

When you buy from a small business, your experience isn’t just personalized—it’s unique. No two small businesses are the same, and in an increasingly homogenized world, this gives them the competitive advantage. They’re exclusive, individual, and select their products based on their own interests and their customers needs rather than on a larger national sales plan—guaranteeing buyers a broader range of one-of-a-kind goods and wares.

For all these reasons (and many more), we support small business, and would like to wish all the small business owners and entrepreneurs out there a very happy small business week!