Guest column: Small businesses thriving amid booming economy (opinion)
National Small Business Week celebrates America’s 30 million small businesses and the entrepreneurs who drive their success. And with the economy thriving, this is an especially good time for entrepreneurship.
In the first quarter of the year, the U.S. economy experienced its best start to a year since 2015. The first-quarter gross domestic product expanded by 3.2%, beating economists’ expectations. Disposable income increased by 3%. Bold changes to tax policies are helping American small businesses and communities prosper.
With confidence in the economy and more money in their pockets, consumers are spending money and small businesses are able to grow.
Small businesses make up 99% of Nevada businesses, and they are creating jobs at higher rates than the national average.
According to Nevada’s March 2019 statewide economic report, jobs increased by 3.4%, the fastest pace in the nation for the sixth consecutive month. Unemployment is down in every county and metropolitan area in Nevada. It’s clear that businesses are investing in their businesses and employees.
During National Small Business Week, May 5-11, the U.S. Small Business Administration recognizes small businesses for their contribution to local communities.
Superb Maids, a Las Vegas-based small business owned by childhood friends Elena Ledoux and Nargiza Mukhutdinovam, is being recognized as Nevada’s 2019 Small Business of the Year.
They employ more than 30 workers and offer flexible schedules, health insurance, retirement benefits and home-buying assistance for all employees as well as supporting their professional and personal goals. Last year, finding themselves in need of a larger building to accommodate their rapidly growing business, they received an SBA 504 Loan, a loan guaranteed by the federal government for small businesses acquiring fixed assets.
During National Small Business Week, we spotlight local job creators and their contribution to local economies. There’s never been a better time to start a business. A key goal of the SBA is to ensure every entrepreneur has the resources to start and grow a business.
The SBA Nevada District Office and local resource partners such as Small Business Development Centers, Women’s Business Development Centers, SCORE chapters and Veteran’s Business Outreach Centers can be found at sba.gov.
Michael Vallante is regional administrator for the U.S. Small Business Administration’s Region IX. He oversees the agency’s programs and services in California, Arizona, Nevada, Hawaii and Guam.