7 important things people forget about small businesses

Small businesses do not operate in the same ways as big Fortune 100 companies… and as consumers, we can sometimes forget that. The American small business is the backbone of the American economy…the very reason many people come to this nation and explore their own American Dream. Here are some things you may not know but probably should about small businesses:

1. What paycheck?

First Paycheck from Flickr via Wylio
© 2010 Andy Nguyen, Flickr | CC-BY | via Wylio

They operate on bare bones. Often in the start-up days, they are likely not getting much of a salary… if anything at all. They watch every penny because each penny goes back into the business to sustain. It can take months or, more likely, years before profits are turned and debts are paid back.

2. Life is messy.

Mop in bucket from Flickr via Wylio
© 2013 Ruth Hartnup, Flickr | CC-BY | via Wylio

Not everything goes according to the playbook. Plans are often derailed by shipping, delivery, and production. A large business can absorb these obstacles, but a small business can be set back weeks or months if something falls through. Be patient and cut small businesses some slack. They are working their butts off to build a sustainable livelihood and a thriving business.

3. Cash goes in… and stays in.

Money from Flickr via Wylio
© 2012 Tax Credits, Flickr | CC-BY | via Wylio

The money spent in a small business likely stays in the local economy to keep it alive and thriving. That small mom-and-pop pizza shop? Your $20 goes a long way there. Consider investing in the local merchants to help them keep the local area going.

4. Veterans are exploding the small business world.

Honoring Veterans from Flickr via Wylio
© 2010 Fort Rucker, Flickr | CC-BY | via Wylio

45 million American businesses have majority owners who are veterans. Texas and New York lead the pack of states with the highest number of veteran-owned businesses owned. So, there’s that.

5. What happens in the community supports the community.

Kirby playing baseball from Flickr via Wylio
© 2010 Kathy, Flickr | CC-BY | via Wylio

Who are the organizations who support local teams and schools? You guessed it: small businesses! The next time you are at a kids’ game and you see a list of sponsors, take note. Your patronage to those shops will help keep jerseys on kids’ backs.

6. Dreams matter.

Store from Flickr via Wylio
© 2013 Bennett2474, Flickr | CC-BY-SA | via Wylio

Every small business was born from someone’s dream. Can you alone keep someone else’s dream alive? Likely not… but you can help by buying local.

7. America needs you. 

Stars and Stripes from Flickr via Wylio
© 2009 Steve Trottier, Flickr | CC-BY-SA | via Wylio

Entrepreneurship single-handedly fuels our nations economic innovation and prosperity. Every entrepreneur has a different story, but very often small businesses help pull people into the middle class. And, don’t forget, local businesses hire locally too.