While going on my weekly binge of coffee and a Shark Tank marathon, it occurred to me that I am not as big of a supporter of local businesses as I'd like to be. For those of you that are not familiar, Shark Tank is a television show in which individuals with prospective business ideas or already established small businesses pitch their products or services to large investors. They do so with hopes that the celebrity investors will subsidize the next big step in growing the company. While this is certainly not the traditional model for a small local business, it inspired me to look up some statistics on the subject, and I was quite surprised at what I found.

Surprising Statistics About Small Businesses (via Forbes):

• The SBA defines a small business as an enterprise comprised of no more than 500 employees.
• Over 50% of the entire American working population works in a small business.
• Of the 28 million small business in the US, 22 million are self-employed with no additional payroll.
• Small Business have produced 65% of the net new jobs since 1995.
• 52% of small businesses are home-based.
• 7 out of 10 new employer firms survive at least 2 years, half at least 5 years, a third at least 10 years and a quarter stay in business 15 years or more.

But... more small businesses shut down every month than they are started, which is where you come in!

With a new appreciation for home-made goods and "keeping the dollar local", small businesses should be thriving more than ever, but with a small budget marketing is not a priority. An interesting statistic I found is that 11% of small businesses will choose a Social Media manager as their next hire. Social media is an invaluable platform for small businesses because it's FREE! You have no idea what a share on Facebook, a retweet on Twitter, or a pin on Pinterest could mean to a small business owner. For most owners, it is their only outlet to reach a large market!

Our nation needs educated young people that are passionate about their respective communities. So the next time you are in an area with some local storefronts, don't feel hesitant to drop in and take a look, it means more than you probably think it does!