What Does the Fourth of July Mean to Small Business Owners?

People all over the United States are getting ready for their Fourth of July celebrations, picnics, sparklers, and red, white and blue-themed decorations. They will be lining up and down sidewalks as parades grace the streets, lighting up their grills as they prepare for BBQs with friends and family, and scoping out the perfect spot to watch firework displays.  This is what Independence Day means to many of us as we celebrate the freedoms we enjoy here in the U.S.A.  We certainly do have a lot to be thankful for.

So, what does the Fourth of July mean for small business owners?  It means freedom; independence for small business owners to chase their dreams; freedom for emerging entrepreneurs to launch a startup and let their creativity take flight, knowing that their dreams and passion might one day change the world we live in.

Personal independence in the form of owning and operating a small business represents a core pillar of the American dream.  The ability to choose what you want to do and having the freedom to pursue those dreams are close to the principles of our Founding Fathers.  Small businesses are the backbone of the American economy and entrepreneurship is a positive value that is always encouraged.  The United States has long been the ultimate destination for people all over the globe seeking a better life with more opportunities and potential for upward mobility.

Small Business Today

The desire for independence drives more and more Americans into starting their own business, freelancing, or becoming independent contractors. According to the 2018 Small Business Profile by the U.S. Small Business Administration, there are over 30 million small businesses in America, which account for 54 percent of all U.S. sales.  Small businesses employ 60 million Americans, nearly half of all employees in the US; businesses with fewer than 100 employees account for the largest share of small business employment.

Benefits of Owning and Operating Your Own Business

Here are some of the benefits of being a small business owner:

  • Happiness - According to Business Insider, 77% of small business owners are happier than the average worker.  Building a successful business certainly leaves you with a sense of pride and accomplishment from being able to measure the impact of your own work.  It’s hard work filled with great responsibility, but also one of the most fulfilling career paths.
  • Flexibility - As a small business owner you choose the hours you spend working.  It provides you with the flexibility to make your own schedule, choose your own work environment and create your own career path.
  • Community Engagement - Small businesses support communities with their products and services, while contributing millions of dollars and jobs to the American economy.  Many business owners actively participate by giving back and improving the lives of others within their local community.

Business owners across industries– including healthcare, food services, retail, construction, manufacturing, waste management, transportation and automotive – have one indisputable trait: they are highly motivated to succeed, and make countless sacrifices to build their business.  Owners and operators aren’t the only stakeholders that benefit from the small business ecosystem: employees, customers, vendors, and communities also play a key role in empowering a business owner’s freedom.

America’s Founding Fathers secured independence through the signing of the Declaration of Independence, forging their way and our future 243 years ago.  Our American military personnel have dedicated their lives to protecting that very freedom: make sure you thank them.  And, if you’re a business owner living this freedom every day, let’s face it – every day is Independence Day for you.

If you are interested in starting a Small Business, find a local Small Business Development Center near you or visit these great resources https://www.sba.gov/business-guide/10-steps-start-your-business/ or A Simple 6-Step Process to Starting a Small Business - Entrepreneur