National Small Business Week runs from May 1 to 7, SBA announces

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Isabella Casillas Guzman, head of the US Small Business Administration (SBA) has announced that the 2022 edition of National Small Business Week (NSBW) will take place from May 1 to 7 this year. This year’s NSBW will be themed “Building a Better America through Entrepreneurship” and seek support for America’s 32.5 million small businesses.

National Small Business Week 2022 announced

This year’s celebrations include a four-day virtual summit in partnership with SCORE to recognize small businesses from across the country for their resilience, ingenuity and creativity. In addition, events will be organized to recognize SBA partners for their support of enterprise development, disaster recovery, government contracting, financial development and others.

“This year’s NSBW provides entrepreneurs in rural, suburban and urban communities across America with a week-long event that highlights the tools and information they need to drive our economic growth, strengthen our supply chains, and improve the products and services Americans depend on every day to deliver,” said Governor Guzman.

What is NSBW about?

Since 1963, NSBW has recognized the contributions of American entrepreneurs and small business owners. The week-long event is considered one of the most important events to recognize the contribution of small businesses in the US. It is more than just an opportunity for entrepreneurs to meet and interact with each other, but also an opportunity for them to come together to collectively face the challenges they face.

As such, more than 10 awards are up for grabs among small businesses across a variety of categories at the National Small Business Week Awards. The nominations for the awards closed on January 11, 2022 to recognize the achievements of SBA-supported small businesses and the contributions they have made to their communities and our nation’s economy.

Prizes include the coveted Small Business Person of the Year. In which a business or owner from each of the 50 states is selected for the state winner. The state award winners compete for the title of National Small Business Person of the Year, SBA’s signature award.

Small Business Contribution to the US Economy

Small businesses in America are defined as independent businesses with fewer than 500 employees and include family businesses, mom-and-pop stores, local record stores, nail salons, spas, and more. The United States is home to 32.5 million small businesses representing 99.9 percent of all businesses. About 50% of all small businesses work from home, with small businesses accounting for 44% of U.S. economic activity.

More than 60 million employees make up 48.6 percent of the total private workforce, and small businesses created 1.6 million new jobs in 2019. Last year there was an increase in the number of applications to start up companies. In 2021, 5.4 million applications were submitted, an increase of 53 percent from the pre-pandemic figures of 2019.

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