Yellowhammer Times

New research conducted by the NFIB Research Center has highlighted the significant role that small businesses play in local economies. Although specific state data is not available, NFIB State Director Rosemary Elebash emphasized the impact of small businesses on Main Street.

"Small businesses are more than just the backbone of our economy—they’re the heart of our communities," Elebash stated. "Small business owners give back in so many ways, from donating their time and resources to strengthening local trust and loyalty."

The 2024 Small Businesses’ Contribution to the Community report provided insights into the community involvement of small business owners. It revealed that approximately 76% volunteered their time to civic activities such as charities, youth sports programs, and various organizations over the past year. A significant finding of the report is the financial support small businesses provide, with 90% of owners donating money to groups like local charities and schools. In addition to monetary donations, 63% of small business owners contributed in-kind, offering resources such as meeting spaces and auction items.

The report highlights NFIB members' involvement in communities and offers a nationwide perspective on small businesses' contributions. The majority of NFIB members have between one and nine employees and report annual sales around $500,000.

Elebash commented on the significance of local shopping, saying, "When you shop local, you’re investing in businesses that give back and make our neighborhoods stronger. Supporting small businesses isn’t just good for the economy; it’s good for the community."

For further details, the full report is available for viewing.