National Small Business Week Postponed Due to Coronavirus Pandemic

National Small Business Week Postponed Due to Coronavirus Pandemic

The National Small Business Week joins the growing number of events that are being canceled and postponed to prevent the spread of the coronavirus. Initially, the National Small Business Week (NSBW) which is hosted by the Small Business Administration (SBA) was slated to take place from May 3- May 9, 2020. The SBA says it is postponing it until further notice.

As per the Center for Disease Control (CDC) large events and mass gatherings can contribute to the further spread of COVID-19. This is because attendees to these events can introduce the virus to new communities when they get back. Many communities no longer permit mass gatherings as social distancing becomes the norm in a bid to curb the spread of the virus.

Since 1963, the National Small Business Week has been held to recognize the contributions small businesses make to the nation. During this period the SBA and highlights the impact of entrepreneurs, small business owners, and others from across the nation. Each year for one week in May, conferences with lectures and speakers educate, inspire, and highlight the success of small businesses.

The National Small Business Week is one of the most important events for recognizing the contribution of small businesses in America. It is more than just a chance for entrepreneurs to meet and interact but also come together to jointly address the challenges they face.

Small businesses are the Engine of America’s Economy

More than half of Americans either own or work for a small business. And they create about two out of every three new jobs in the U.S. each year. Some 99.9% of all firms across the nation are small businesses and employ 60 million out of 126.8 million employees across America. Over 97 percent of all trade activity come from small businesses, generating one-third of the nation’s $1.4 trillion earnings from exports

Furthermore from 2000 to 2018, small businesses created 9.6 million net new jobs while large businesses created 5.2 million. Thus, accounting for 64.9% of net new job creation in the period.

The NSBW Honors the Most Enterprising

When the NSBW starts again, it will honor small business owners from across the country. Accomplishments by small businesses, entrepreneurs and others will be recognized for their contributions towards entrepreneurship and the economy.

The week-long celebration provides homage to America’s 30 million-plus small businesses that are central to the economy and their communities. The event gives no less than 10 awards to recognize individuals and businesses. This includes the National Small Business Person of the Year and the Phoenix Awards. They recognize a public official, a business owner and a volunteer whose efforts are helping businesses or communities recover successfully from a disaster.

Other award categories include SBA Resource Partners; Exporter of the Year; Federal Procurement Awards; Lender of the Year; Entrepreneurial Development Awards; the Dwight D. Eisenhower Award for Excellence and others

The National Small Business Person award goes to individuals among all state small business winners. It includes the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Guam. Winners of the awards receive the honor in recognition for creating jobs, driving innovation, and increasing the nation’s global competitiveness.

With hosting events becoming a challenge, technology is now allowing some organizations to offer event experiences online. New recommendations ARE emerging on how best to ‘flatten the curve’. And public health strategies are looking for ways to slow the spread of the virus. With the goal of eventually containing it and allow time to respond.

Image: sba.gov

This article, "National Small Business Week Postponed Due to Coronavirus Pandemic" was first published on Small Business Trends



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