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3 Things To Know For National Small Business Week

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In 1963, President John F. Kennedy announced the first-ever National Small Business Week.

The celebration – which has been declared by every U.S. president for 54 consecutive years – recognizes the contributions made by America’s entrepreneurs and small business owners through a number of events across the country.

This year it's scheduled to take place all of this week, April 30 through May 6. Here are three important facts you should know about the nation’s small businesses. 

1. Small businesses are the nation’s leading employer.

According to the most recent statistics from the Small Business Administration (SBA), there were 28.2 million small businesses – which are independent businesses with 500 employees or less – in the United States in 2011. Small businesses employ more than 50 percent of the U.S. working population and make up a staggering 99.7 percent of the nation's employer firms. 

2. Small businesses drive the creation of new jobs.

Between 1993 and 2013, the SBA estimates that small businesses created nearly 15 million new jobs – or about two-thirds of all new net jobs – in the United States. Since the end of the recession in 2009, small businesses have accounted for approximately 60 percent of net new jobs. 

3. Energy is a major expense for many small businesses. 

The U.S. Environmental Protection Agency’s ENERGY STAR program estimates that U.S. small businesses collectively spend $60 billion on energy each year. Additionally, a survey conducted by the National Federation of Independent Business (NFIB) found that energy costs are a top-three business expense for more than one-third of the nation’s small businesses.

However, it doesn’t necessarily have to be that way. Many small businesses possess significant energy savings potential. Depending on the building and business type, small businesses could potentially reduce energy costs 10 to 30 percent through straightforward efficiency upgrades and behavioral adjustments — all without sacrificing service or comfort.

Given the importance of small businesses to the U.S. economy, it’s important for them to have a range of energy-saving options, whether it’s fixed electricity rates that help protect them from seasonal price spikes or the latest cutting-edge technology.   

Learn how your small business can begin to save on its energy bill.

Check out these 50 Energy Saving Tips

Posted: April 30, 2017