National Small Business Week 2020 Is This Month - September 22-24

Kelsey Banerjee on Sep 03, 2020

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NSBW features events and activities that highlight the role of small businesses in the U.S. economy and their contributions to communities across the nation
NSBW honors outstanding entrepreneurs and small business owners in various award categories, such as Small Business Person of the Year and Minority-Owned Small Business of the Year
There will be events throughout the week such as awards ceremonies and a virtual conference, plus local events in all 68 SBA districts

The Small Business Administration (SBA) announced National Small Business Week will be held September 22 to 24. It was postponed from its usual time in May because of the coronavirus pandemic.

National Small Business Week usually features events and activities that highlight the role of small businesses in the United States economy and their contributions to communities across the nation.

“I am thrilled to host SBA’s virtual National Small Business Week ceremony and provide this opportunity to recognize inspiring entrepreneurs from across the country for their innovation, and in many cases this year, resilience,” said SBA Administrator Jovita Carranza.

The U.S. Small Business Administration, a co-sponsor of the celebration, describes NSBW 2020 as a tribute to small business owners, entrepreneurs, and others involved in commerce from all 50 states and select U.S. territories.

As part of the celebration this year, the SBA will host virtual events, education panels, and awards.

The SBA also encourages state and local governments to issue proclamations declaring Small Business Week in their districts and communities. The agency even provides an online sample proclamation that issuers can customize.

A 57-year tradition

NSBW began in 1963, when President John F. Kennedy issued the first proclamation acknowledging small businesses’ achievements. Kennedy reportedly believed in the importance of recognizing entrepreneurs. Every U.S. president since then has continued the practice, with 2020 being the 57th tribute.

Half of all SMBs survive 5 years or more, and nearly a third survive 10 years or more.

The SBA is promoting NSBW 2020 on its website, where it commends SBOs and entrepreneurs by stating, “Every day, they’re working to grow small businesses, create 21st century jobs, drive innovation, and increase America’s global competitiveness.”

Small is bigger

SMBs have lots to “crow” about, just based on their size alone. According to the latest figures available from the SBA Office of Advocacy (2016), there are 30.2 million SMBs nationwide. And those with fewer than 500 employees made up a staggering 99.7% of all U.S. businesses with paid employees.

According to the latest figures available from the SBA Office of Advocacy (2016), there are 30.2 million SMBs nationwide.

In other statistics from the SBA or its Office of Advocacy:

More than half of all U.S. workers either own SMBs or are an employee of one
U.S. SMBs generate 2-in-3 new jobs a year, or about 62% of all net new jobs
SMBs account for 44% of the U.S.’s gross domestic product
First-year survival rates for SMBs have improved, reaching nearly 80% from 2014 to 2015
Half of all SMBs survive 5 years or more, and nearly a third survive 10 years or more

National award winners

“A National Small Business Week award is one of the nation’s highest honors for small business achievement.”

NSBW honors outstanding entrepreneurs and small business owners in various award categories. The SBA requested nominations for this year’s awards in a September 5, 2019 media release, in which SBA Acting Administrator at the time, Chris Pilkerton, said: “We are proud to recognize the small business owners that have made it their mission to support their communities and drive the entrepreneurial spirit forward. A National Small Business Week award is one of the nation’s highest honors for small business achievement.”

The week’s agenda

Tuesday, September 22, 1 p.m. EST – “Pride in America’s Small Businesses”

Day’s events include:

National Small Business Week Welcome by SBA Administrator Jovita Carranza
Keynote Address
National Small Business Week Awards Presentations

Wednesday, September 23, 9 a.m. EST – “Preparing for a stronger tomorrow: Recovery, Adaptation, and Innovation”

Day’s events include:

Panel Discussion Series – America’s Strength, Learning to Pivot and Innovate
Mid-day Sessions – SBA’s Veteran Resources and Veteran Success Story Videos

Thursday, September 24, 9 a.m. EST – “Preparing for a stronger tomorrow: Recovery, Adaptation, and Innovation”

Day’s events include:

Panel Discussion Series – America’s Strength, Learning to Pivot and Innovate
Mid-day Sessions – The Business Landscape of today and Federal and Local Resources to Empower Small Businesses

Ways to celebrate

Besides joining the virtual conference and taking part in local NSBW events, small businesses also can:

Share their owner/operating experiences on social media
Take part in Twitter chats
Officially thank employees and customers
Offer patrons discounts or other deals during the week
Partner with fellow small businesses in their community
Share information from the SBA, SCORE, and other sources with fellow businesspeople

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About the author

Kelsey Banerjee

Kelsey Ray Banerjee is a freelance finance and business writer. Always curious about people, her first job was fundraising for her college, where she talked to professionals from all walks of life. When she isn't writing, she's exploring blockchain and design.