Entrepreneur: (n) a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Last month, SmartBiz Loans celebrated National Entrepreneurship Week. It’s a week close to our heart as we serve small business owners across the U.S. who own and operate successful ventures. Although each business operates in its own unique fashion, the cumulative impact of the small business sector is enormous. Entrepreneurs deserve a week of recognition!
A few 2016 statistics about small businesses from the SBA:
- The 28 million small businesses in America account for 54% of all U.S. sales.
- Small businesses provide 55% of all jobs and 66% of all net new jobs since the 1970s.
- The small business sector in America occupies 30-50% of all commercial space, an estimated 20-34 billion square feet.
- Since 1990, as big business eliminated 4 million jobs, small businesses added 8 million new jobs.
SmartBiz helps small business owners secure SBA loans to help their enterprise grow and save. Each day, we hear stories of entrepreneurship and exciting plans to expand. We reached out to a few customers for entrepreneurial information. Here’s their seasoned insight.
Dave is the owner of The Beer Cellar, the first craft beer shop of its kind in the western suburbs of Chicago.
He started the business in a tiny basement space but will soon be expanding to a new location with the help of SBA loan proceeds. His advice? “Start small and start with what you can afford.” He also stresses that it’s important to have passion. “I truly love my job,” he says. “I say that every day.”
Laura, the founder of Epic Global Entertainment, comments on being a female business owner and financially responsible.
“As long as you do the right thing with finances, your dreams can turn into reality. Taking the leap to become a women entrepreneur was not easy, but life is way better on the other side. Just do it!”
Amir, creator of the popular yoga prop the Infinity Strap says, “Inventing is like creating art. You have to come up with unique ideas that others have not had. Artists are by definition inventors.” (Yes, that’s him in the photo below – “WOW”!)
“I think it’s the freedom to implement your craziest and most creative ideas and know that you can make it right,” he says. “I don’t have to ask permission, I know I’m doing what’s right for the customer.
Our customer Matt of Denim Coffee says the best thing about owning a small biz is being free to do good. “The best thing about being a small business owner is the creative freedom you have to do something good in the world. I’ve been in the coffee business for 11 years and I’m holding onto a greater vision. You don’t get to do that if you work for a corporation.”
Danielle started Savory Gourmet Catering in Maryland with just one basket of goodies. She stresses the importance of setting goals and staying accountable.
“Every year, I give myself a goal then I look back and do an assessment. I’m excited to see what I can do.”
In another show of support for small business owners recently, we ordered Valentine’s Day Treats from a few of our customers. Thank you to Denim Coffee, First Choice Candy and Amazing Balloons by Gee for helping us create a festive – and delicious – atmosphere.
Want more? Visit our blog to read in-depth success stories about our customers.
If you’re a small business owner ready to grow and save money, an SBA loan is the best bet. SBA loans have low rates and a 10-year term, meaning monthly payments are very low. Visit SmartBiz today and discover in about five minutes if you’re qualified for an SBA loan. There’s no impact on your credit score during prequalification.