Coweta in Focus
Small businesses represent backbone of job growth
by Candace Boothby, President, Newnan-Coweta Chamber of Commerce
You’re possibly aware of the fact that most job creation in America is done by small business.
Did you also know that, since the end of WWII up to the present, Fortune 500 companies have created zero net new jobs? In other words, “all” net job growth is due to small business.
Say it with me: WOW!
This data stunned me and the several hundred in attendance at a statewide economic development conference a few years ago when a highly respected economist from an equally respected Georgia university delivered this news.
This occurred at a time of strong economic growth nationally and it is doubtful that in the turbulent economic years since that the needle has moved much for large businesses.
Press releases and headlines proclaim the location announcements of companies that promise hundreds or even thousands of new jobs that will be created when the project is completed.
When hundreds or even thousands of jobs disappear at other large corporations because of economic contractions, “right sizing” or mergers and acquisitions occurring, the headlines aren’t quite as dramatic but the sting of the losses are.
Year in and year out, America’s net job growth comes from small businesses. These entrepreneur-driven enterprises don’t offer golden parachutes or stock options to its management. For them, it’s sink-or-swim and that’s strong motivation in itself.
Add to that the satisfaction of creating and maintaining one’s own business and fulfilling a dream, and the demands and sacrifices of small business are more understandable.
Don’t misunderstand. We always welcome and work hard to attract and support large business growth and the many rewards they bring. But we also cheer very hard and work to attract and support the backbone of job growth in America – our small businesses.
The Newnan-Coweta Chamber is currently accepting applications for its Small Business of the Year Awards and will host a luncheon on Aug. 21 to honor all small businesses including the nominees and award recipients.
Their contributions to the prosperity of Coweta County are not small because their businesses are considered so. These are the leaders that make a truly measurable difference to the quality of life here.
Remember to think Coweta when making purchases and to thank those small businesses you do business with.
Think small and live large, Coweta!