Ep: 18 Small Business Week: A Launchpad for Aspiring Entrepreneurs

 Hello and Welcome to another episode of the Brave Pivot Podcast your go-to podcast for all things business and entrepreneurship. I’m excited and grateful that you are here. Thank you for spending your time with me! So, this week is such an exciting week! 

I'm super excited to share with you that this week is National Small Business Week! So, Happy Small Business Week to all of you! 

 I'm excited to let you know that today's podcast is dedicated to Small Business Week!  I'll be starting by delving into the history of Small Business Week. Next,  I’ll be sharing some invaluable insights.  And lastly, I’ll provide resources and next steps for those who are looking to embark on their own entrepreneurial journey and make a Brave Pivot. 

Transcript

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Hey friends. Welcome to another episode of the Brave Pivot Podcast, your go-to podcast for all things business and entrepreneurship. I'm excited and grateful that you're here. Thank you for spending your time with me. So this week is such an exciting week. I'm super excited to share with you that this week is National Smalls Business Week. So happy Small Business Week to all of you. I'm excited to let you know that today's podcast is dedicated to Small Business Week. I'll be starting by delving into the history of Small Business Week, then I'll be sharing some invaluable insights. And lastly, I'll provide some resources and next steps for those of you who are looking to embark on their own entrepreneurial journey and make a brave pivot. Hi, and welcome to the Brave Pivot Podcast. I'm your host, Cindy Marie Ferguson. I'm a former corporate girl turned entrepreneur, business educator, and mentor here to help you build a profitable and successful business. After the kids corporate and chaos. On the podcast, we'll have honest and meaningful conversations around becoming an entrepreneur. Starting a business, building a brand, and my favorite systems and processes and so much more. If this sounds like your thing, stick around twice a month on Wednesdays through guest interviews and several episodes, I'll be providing insights, tools. Business strategies and actionable support to help you along the way on your entrepreneurial journey. Get ready for some candid conversations, inspirations and invaluable insights. I'm so delighted that you're here. Let's dive in and get started. Welcome back to the Brave Pivot Podcast. I'm excited to share that this week's episode is all about National Small Business Week. Small Business Week is that special time of the year when we come together to celebrate the heart and soul of our economy, small businesses and their owners. Since 1963, this annual event has been showcasing the hard work, creativity, and tenacity of entrepreneurs across the United States. This week is dedicated to recognizing their hard work, perseverance, and dedication to making difference in their community and pineapple. As someone who's passionate about small businesses, I'm excited to share some insights into the history of Small Business Week, along with some support and resources provided by the Small Business administration, or as we like to call it, the S B A. And why now is the perfect moment for you to make your own brave pivot and start your business? I'll start by providing some history of small Business Week. Smallest Business Week is an annual event that celebrates the important contributions of small businesses and their owners in driving the economy and innovation. The history of Small Business Week is rooted in the recognition of the vital role small businesses play in the United States economic landscape. The idea for a week dedicated to celebrating and supporting small businesses started with the establishment of the small business administration, which dates back to 1953. However, it wasn't until a decade later that the annual tradition officially took shape. In 1963 when President John F. Kennedy signed a proclamation designating a week to honor and support small businesses across the United States. Since then, every president has followed suit with the week, typically fallen in the first week of May. This annual event provides an opportunity for small businesses to showcase their products and services, engage with your communities, and connect with other entrepreneurs and business owners. Small business Week has evolved over the years with changing priorities and focusing. So in the 1970s and 1980s, themes included minority business development. Energy conservation and environmental protection. In the 1990s, there was a shift towards the role of technology and innovation in small businesses with the Internet providing new opportunities for growth. The early two thousands emphasized the importance of small businesses in the aftermath of nine 11 and their role in economic recovery. More recently, small Business Week has highlighted digital tools, cybersecurity, global market opportunities, and the role of women and minority entrepreneurs. The small business administration and its resource partners organized various events, workshops, webinars, and award ceremonies to celebrate small business week nationwide. If you've been thinking about turning your dreams into reality and starting your own business, there's no better time than now. My friends, you know how much I love to share data and metric information. So here's some invaluable data that might diss inspire you to make the leap. Now, here's a disclaimer. The metrics that I'll be sharing are from the US and I will know that we have some international listeners and I wanna make sure that I call out that distinction for their reference. So over the past few decades, there have been a remarkable increase in the number of women owned businesses in the United States. According to the latest State of Women OwnedBusiness Report by American Express, women owned firms now make up 30% of all businesses in the US and they're generating about 1.5 trillion in revenue. The number of women owned firms in the US continues to climb, and now is estimated to surpass 9.4 million enterprises. Since 1997, there have been an average of 608 net new women owned firms launched each and every day. The rate just over the past year stands at 887 per day. The number of women-owned firms is increasing at a rate of 1.5 times the national average. Now, you might be asking who's starting these enterprises? Now, increasingly year after year, and this makes my heart happy to say women of every ethnic background. Now, just to give you a little perspective, back in 1997, there were just under 1 million firms owned by non-Caucasian women representing one in six, which translated to 17% of women owned firms. Now they're an estimated 3.1 million minority owned firms representing one in three, which translates to about 33% of women owned firms. And I'm delighted to share the growth in the number of African American, Asian American, Latina, Native American, Alaska native, and native Hawaiian Pacific Islander since 1997 surpasses the growth in the number of non-minority owned firms, severalfold. The growing diversity of women owned firms is one of the most remarkable trends of the past decade. Now, that's music to my ears that it's such great news and it's highly encouraging for those aspiring entrepreneurs that are still on the fence about starting. This will give you lots of inspiration, perhaps, maybe even a gentle nudge. Now if you're looking to put that inspiration into action and move closer to your entrepreneur journey than this next part's for you. I'll be highlighting some benefits in providing resources from the Small Business A dministration. For those of you who aren't familiar with the Small Business Administration or the SBA as we call it here in the U.S. It's a federal agency that provides support and resources to small businesses and entrepreneurs. Now during Small Business Week, the S B A offers a variety of events, workshops, and webinars to help small business owners expand their knowledge, network with other entrepreneurs and access valuable resources. Some of the key benefits and resources offered by the S B A include number one. Which is really important. Access to capital. The SBA offers various loan programs to help small businesses obtain the funding they need to grow and succeed. This includes the popular seven(7) A loan program, micro loans, and disaster loans. Number two, they offer business coaching and training through resource partners like the Small Business Development Centers,(SBDC) the SCORE and Women Business Development Centers.(WBC) the SBA offers free or low cost business counseling and training to help entrepreneurs start and grow their businesses. And number three, government contracting. The SBA helps businesses compete for government contracts by providing assistance and understanding the process, finding opportunities and securing contracts. And lastly is number four, business advocacy. The SBA advocates for small businesses at the federal level by working to ensure that regulation and policies are favorable for small business growth and success. If you are considering starting a small business, here are some resources. The next steps to help you get started, and if you're in the US you can visit the SBA website@www.sba.gov, and I'll be sure to link that in the show notes for your reference. Now the SBA website provides valuable information on starting a business, they include guides, checklists, and tools to help you navigate that process. Additionally, you can attend local small business week events, workshops, and webinars to learn from experts and connect with other entrepreneurs. You can start by reaching out to SBA resource partners like the SBDC score and WBCs for personalized women's counseling and training. They can also help you develop a solid business plan to outline your goals, your strategies, and financial projections. Additionally, they can also provide support to research funding options such as S B A loan programs, grants, and other financing resources that are tailored to your specific needs and circumstances. And finally, you can network with other entrepreneurs, industry experts, and other potential mentors to gain insight and support as you start and grow your business. By continuously seeking opportunities for growth, learning, and improvement. By attending those workshops, conferences, and networking events, you can stay informed about industry trends and best practices. Small Business Week provides an excellent opportunity to celebrate the achievements of small business owners and learn about the resources and support available to aspiring entrepreneurs. With the increasing number of women owned businesses and the expanding resources and support for women entrepreneurs, now is the ideal time for you to take your leap and start your own business. If you live in the US and you've been thinking about starting your own business, I'd encourage you to reach out to your local small business development center and schedule some time to learn more about the support, opportunities, and resources that are available to help you get started. I hope you consider starting your own business. There is someone out there that has been waiting to hear from you and needs your brave and unique brilliance. Thank you for listening to The Brave Pivot Podcast. And as always, until next time, be bold, brave, and amazing. Thank you so much for joining me. I hope you enjoyed the episode. If something I shared today resonated with you, I'd love to hear from you. Please tag me@cindymarie.co on Instagram. If you enjoyed this podcast, please leave an honest five star review. When you do, it helps us to grow the podcast and helps others define us as well. Also, be sure to subscribe to the podcast so that you know when the new episodes are being released. You can subscribe right from the app that you're using to listen to this podcast, or you can sign up for email alerts@cindymarie.co. Lastly, if there's something you'd like to hear about in a future episode or if you just wanna stop by and say hello, please feel free to DM me on Instagram. Thanks again for listening to The Brave Pivot Podcast, and I'll see you next time.