National Small Business Week highlights economic impact of smaller organizations
WEST VIRGINIA (WVNS) – This week is recognized National Small Business Week and local organizations are taking time to recognize entrepreneurs and small business owners throughout their communities.Small businesses play a major role in our national economy, with nearly 35 million small businesses making up for 99.9% of all businesses throughout the country, according to the U.S. Small Business Administration's Office of Advocacy.
Well known for their hospitality, West Virginians have typically been quick to offer up support for mom-and-pop shops, local startups, and other smaller organizations that power the community, as well as the country.'Small businesses are the backbone of not just Greenbrier County, West Virginia, but also the nation,' said Greater Greenbrier Chamber of Commerce Executive Director, Erin Hurst of the impact of small business.
Fayette County Chamber of Commerce Executive Assistant, Tim Naylor was likewise adamant that small businesses fill one of the most vital economic roles in the nation. 'Small businesses are the ones who are your friends; your neighbors; your family,' Naylor told 59News. 'I think it's really important that we push small businesses and do what we can to help them out.'
National Small Business week will be observed through Saturday, May 10, offering recognition to some of the hardest working employees and employers across the nation.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a day ago
- Yahoo
Beloved Bar & Grill Suddenly Closes After 33 Years of Service in Michigan
Local restaurant closures have sadly become a very common thing, but it shouldn't be a surprise, because keeping a local business of any kind going can be challenging. According to the U.S. Small Business Administration Office of Advocacy, as of 2023, there were more than 33 million small businesses in the United States. That's a lot of competition. They add that small businesses employ 61.7 million Americans, totaling 46.4 percent of private sector employees. From 1995 to 2021, small businesses resulted in 17.3 million net new jobs and accounted for 62.7 percent of net jobs created since 1995, the Office of Advocacy adds, so they're a big part of the American economy. That's one reason why supporting small businesses with events such as Small Business Saturday helps the community: Those businesses employ a lot of people. Now, one longtime bar and grill has closed its doors after more than three decades of service. Red Hawk Bar and Grill was serving its local community since 1992 up until the restaurant announced that it would be closing its doors. The restaurant was located in Ann Arbor, MI, which is about 45 miles from Detroit. The restaurant shared the sad news in a post on social media. "After much consideration, we have come to the difficult decision to close our doors after 33 years of business," the post stated. They added that the reason they're closing is due to the pandemic and the rising cost of food making it "increasingly difficult" to keep operating. "The past few years have tested us in all the ways we never anticipated," the posted added, "and while we've fought to overcome these challenges, the financial strain has become insurmountable." The post also thanked the staff and gave "gratitude" to those who have come to the bar and shared some food or beverages to support the establishment. "Whether you've dined with us once or returned often, your patronage has meant the world to use. We will cherish the memories we've created together and are forever grateful for your loyalty," the post stated. "Thank you for being part of our journey."Beloved Bar & Grill Suddenly Closes After 33 Years of Service in Michigan first appeared on Men's Journal on Jun 12, 2025
Yahoo
3 days ago
- Yahoo
SBA offering low-interest loans to tornado-affected residents
The U.S. Small Business Administration is offering low-interest disaster loans to individuals, businesses, and nonprofits impacted by the May 16 tornado that struck Laurel County. As of press time Tuesday afternoon, 79 — 61 homes, 13 businesses, and five EIDL (Economic Injury Disaster Loan) — Kentuckians have applied for an SBA disaster loan, and 17 home loan applications have been offered for just over $2.8 million. Eligible residents can receive in-person assistance at a Business Recovery Center now open in London. The center is at the Kentucky Highlands Investment Corporation, located at 440 Old Whitley Road. It is open Monday through Friday from 9 a.m. to 6 p.m. through July 2. SBA representatives are available on site to help applicants complete their forms and answer questions about loan programs. The SBA is providing several types of loans for those who suffered damage from the storms: — Business Physical Disaster Loans: Up to $2 million for businesses to repair or replace damaged property, equipment, inventory, or supplies. — Home Disaster Loans: Up to $500,000 for homeowners and renters to repair or replace disaster-damaged real estate and personal property, including vehicles. — Economic Injury Disaster Loans (EIDL): Up to $2 million in Russell and 20 additional Kentucky counties for small businesses and nonprofits to help cover ongoing operating expenses such as payroll and rent. According to Public Affairs Specialist James "Jim" Accurso, interest rates can be as low as 2.688% for homeowners and renters, 4% for businesses, and 3.25% for nonprofits. Loan terms can extend up to 30 years. Accurso also shared there is no cost to apply, and residents are not obligated to accept a loan if offered. Survivors may additionally qualify for mitigation funds to help strengthen properties against future disasters. Although Accurso recommends visiting the center in person to receive guidance from trained customer service representatives, applications can also be completed online at
Yahoo
4 days ago
- Yahoo
2nd Saturdays to launch this weekend in Downtown Beckley
BECKLEY, WV (WVNS) – A local effort to revitalize Downtown Beckley has made way for the inaugural 2nd Saturdays event, set to take place this through the Beckley-Raleigh County Chamber of Commerce's Downtown Pulse initiative, the monthly event will highlight local brick and mortar business locations and will feature vendors and live music. Beckley-Raleigh County Chamber of Commerce President & CEO, Michelle Rotellini told 59News the chamber hopes to show off the potential of the Downtown Beckley area through the event.'It's like a secret little hidden treasure right now. There's a lot of vacant spaces with a lot of character and a lot of potential,' she said. 'The [Beckley-Raleigh County] Chamber [of Commerce] has really come in to say, 'hey, let's start to create some synergy so that there's a reason to be downtown; so that there's foot traffic.'' 2nd Saturdays will take place on Main Street in Downtown Beckley on the second Saturday of every month, as the name suggests. Each event will feature a new lineup of entertainment and vendors. This weekend's event will also feature the soft opening of the Tiffany's boutique in the downtown area. Entrepreneurs and vendors interested in getting involved with 2nd Saturdays have been encouraged to reach out to the Beckley-Raleigh County Chamber of Commerce. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
