Anyone thinking about starting a small business should never feel alone. Your success is important to many people. Your community relies on your success because it means better neighborhoods and better schools. America relies on your success because it means more jobs, a stronger economy and increased global competitiveness.
And your success is important to the U.S. Small Business Administration, whose mission as a federal agency is to stand with entrepreneurs every step of the way, from start up to expansion. The SBA has your back.
Last fiscal year, the SBA approved nearly $3 billion in loans to over 4,600 Texas entrepreneurs. Close to half of these loans went to fund startups throughout the state, launching new recreation centers, new restaurants, new coffee shops, new breweries, new medical offices and new retail shops. Over 14,000 jobs were created as a result of just the new businesses funded with SBA-backed loans. Over $6.5 billion in federal contracts were awarded to Texas small businesses in fiscal 2018, creating and retaining thousands of jobs.
With this kind of an impact across the state and the country, small businesses, new and existing, deserve a special week of recognition.
Every year since 1963, the president declares National Small Business Week as a time to shine a spotlight on the impact of small businesses on our nation. I encourage you to join this year’s celebration May 5-11. There will be community events across the country, including in-person events, an educational virtual conference on a variety of business topics, and a Twitter chat about how to start and grow a business. You can follow along all week on social media using the hashtag #SmallBusinessWeek.
In Texas, we celebrate 2.7 million small businesses that represent 99.8% of all businesses in the state. They employ 4.7 million workers, which is 45% of the state’s workforce.
At the SBA, we are proud of our role in fostering business growth across Texas and the country. If you own a small business, don’t miss out on the advice and services provided by the SBA and our national partners like Small Business Development Centers, Women’s Business Centers, Veterans Business Outreach Centers and SCORE chapters. Remember we have your back and this week in particular, we celebrate your success.
For additional information about National Small Business Week, visit www.sba.gov/nsbw. Find out more information on the SBA’s programs and services by visiting www.sba.gov. Follow us on Twitter @SBASouthCentral.