This year, May 1-6 has been declared as National Small Business Week by the US Small Business Administration, and we are proud that Atlanta has been selected to play host to one of the keynote events this year: #DreamSmallBiz.
Why does small business week matter? Well, for one, about 50% of all Americans work for an enterprise which is classified as a small business, and small businesses still create about 2 out of every 3 new jobs in the US. This percentage is only likely to grow in the years to come, as the small, local revolution and the gig economy continue to expand their share of GDP.
Despite the outsized roll that small businesses play in our economy—in job creation, wealth creation, community stabilization, innovation and other areas—access to capital remains a key challenge.
Our traditional channels of providing capital to small and medium sized enterprises have largely shrunk away from this market, and, in some cases, have completely abandoned it. If small business week is to carry a wider meaning, it must emphasize the importance of providing fair access to capital for all small businesses, in a responsible and understandable way.
We look forward to following the events and the data which come out of small business week 2016, and we hope to learn more about how small businesses are turning, increasingly, to alternative sources of funding, such as peer-to- peer lending, community finance and crowdfunding.
Talk to SparkMarket about how we can help facilitate your Georgia or Tennessee small business run a small loan community capital campaign.
Thanks for Your Continued Support,
The SparkMarket Team