It's Mom and Pop Business Owner's Month!
When you think business, do you think BIG? You may be surprised to know that it’s small businesses, (defined as under 500 employees), like Phinney Lumber, that really run the economy. Don’t believe it? Check out these none amazing facts about small businesses from the Small Business Administration’s (SBA) office of advocacy about who runs the world:
1. We’re (almost) all small! Small businesses comprise 99.9% of all firms. Out of 29.6 million businesses, all but 19,000 are small.
2. Exporters, please stand up. Nearly all U.S. exporters are small businesses (all 287,835 of them) and that’s 97.6% of all exporting firms. They handled $440 billion in exports!
3. You’re hired! Small businesses generate 3 out of 5 new jobs, driving employment growth by employing 58 million private sector employees; that’s 77 million jobs!
4. It’s a family thing. One in 5 firms is completely family owned (like Phinney Lumber!).
5. Home grown. Half of all firms are home-based. Who knew?
6. High tech hires. Nearly all employers firms (98.5%!) in high tech industries are small businesses; and we thought all those computer geeks at home were just playing video games.
7. Immigrants are industrious. Immigrants make up 1 out of 7 (14.4%) of U.S. business owners.
8. Bootstrap believers. Small business owners are more likely to use personal savings to finance expansions (22%) than business loans from banks (4.5%).
9. Survivors. The one year survival rate for small businesses hit 80% in 2016 - the highest share since 2006! Go, small business!
10. Local retailers give 3 times as much money per dollar earned from sales back to the community than national chains; and 75% of small businesses donate to community causes.
Phinney Lumber is proud to be a part of item #10… we have offered our support to the following community groups, events and programs:
Baxter Memorial Library summer reading program
9/11 memorial 5k to benefit the Stephen Gordon Ward memorial scholarship fund
Gorham Women’s Club
Keep Kids Safe Maine
Stop Trafficking Us
New Year’s Gorham
Gorham High School Alumni Association
Maine Gay Men's Chorus
First Parish Church
Gorham Lions Club
Young Farmers Club
Hoyt Therapy Dog Program
Gorham Cooperative Preschool
Schoolhouse Arts Center
Gorham Community Chorus
Gorham High School Girls' Basketball
Gorham Fire Department
Portland Eagles Club
Casco Bay Concert Band
Casco Bay Wind Symphony
Gorham Middle School Drama
March 29th is Mom and Pop Business Owner’s Day. Celebrate by giving a shout out to your favorite family owned businesses!
Psst... want to win a highly-coveted Phinney Lumber baseball cap? "Check in" at Phinney Lumber on Facebook to be entered in a drawing WIN! Drawing will be held on March 31.