Micro businesses are important to us. We even included them in our mission statement: The North Charleston Chamber of Commerce is home to a diverse range of companies in the Charleston Metro area – and they all want to do business with the micro businesses of the surrounding area.
Here’s why micro businesses are such a big deal to us – and to all of North Charleston.
So what exactly is a micro business?
A micro business can be described as a business that has only one owner, with a total of up to five employees including the owner.
Micro businesses are everywhere in Charleston – the organic tomato farmer at the Saturday farmer’s market, the childcare center in your neighborhood, your favorite neighborhood restaurant or the new sophisticated food truck. MY SUGGESTION: use actual micro businesses that are NCCC members for these examples.
Micro Means Big Numbers
Representing a staggering 86% of all U.S. businesses, micro businesses are changing the dynamics of income, wealth creation and quality of life in America. The most recent report on micro businesses in America, the oft cited “Bigger than You Think: The Impact of Microbusiness in the United States” looked at the profound impact these businesses have had on American job growth.
In 2011, micro businesses contributed to the creation of over 26 million jobs, the most of any industry. They also contributed to the creation of 1.9 million indirect jobs and 13.4 million induced jobs. “In fact, if each micro business owner in America hired just one person,” the report concluded. “We would reach full employment in America.”
From workers hired to taxes paid and spending generated, micro businesses are indispensable engines that help drive the broader economy.
Micro Means Big Opportunity
By their very nature, micro businesses are flexible; allowing you do things on your terms, on your time, according to your skills and your passions. Because of this, more and more people of every age, especially women and minorities, are drawn to micro businesses, thereby providing income, wealth and upward mobility across racial, ethnic, and gender lines.
“Strategies to promote the expansion of successful microbusinesses can create greater equality and economic inclusion while seeding new businesses and jobs.”
Obviously, micro businesses have become too important to ignore. Even on a local level, they are redefining the workforce and the economy of the North Charleston metro area. And that’s why our members so interested in these types of businesses. Are you a micro business owner? We’d love to hear your thoughts on your experiences – and how we can help you be a success in North Charleston.