Small Business Week

According to the Bureau of Labor Statistics, about 20 percent of small businesses fail in their first year, while 50 percent fail in their fifth year.

Officials in the Athens-Limestone area want small businesses to thrive and grow and say they’re willing to do whatever they can to ensure their success. To that end, mom and pop operations will be celebrated locally as part of National Small Business Week.

The Greater Limestone County Chamber of Commerce will host events Monday through Thursday as part of the celebration. On Friday, chamber staff will be out in the community visiting small businesses and thanking them for being a part of the business community.

“The chamber wants to create awareness in the community about the importance of small businesses and the impact they have locally,” said Chamber President Jennifer Williamson, who added now is a great time to open a business in the area. “We have more people moving into our area and more shopping and restaurants, so it’s a great time for small businesses in our community.”

Athens Mayor Ronnie Marks said when residents shop at a small business, they are supporting business owners who are neighbors, friends at church and community volunteers.

“Small businesses give our city it’s Classic. Southern. Character. because they know many shoppers by name, and they offer unique shopping experiences,” he said. “They are vital to the economic health of our community by providing jobs and luring visitors to shop in Athens.”

Scheduled events

The following events are scheduled as part of Small Business Week:

• Monday: Marks and Commission Chairman Mark Yarbrough will sign a Small Business Week proclamation;

• Tuesday: A meet and greet event with chamber staff is scheduled for 3-5 p.m. at the chamber, 106 Cloverleaf Drive, Athens. Business owners are encouraged to stop by and find out what resources are available;

• Wednesday: The chamber will host a lunch and learn, “Nuts & Bolts of Small Business,” at noon at the chamber office. Heather Wright with the University of Alabama’s Small Business Development Center will facilitate the discussion. A panel of resources from the area of banking, insurance, accounting, marketing and legal will also be present. Those interested in attending should RSVP by calling 256-232-2600; and

• Thursday: “Networking 101,” a breakfast business seminar, will be held at the chamber office. Participants can learn how to “work the room” at a networking event and how to develop relationships that increase business and expand influence. The event is being facilitated by Freda Anderson with Anderson AllState. To register, call 256-232-2600.

Small business facts

According to the U.S. Small Business Administration, there are 392,939 small businesses in Alabama, which comprises 99.4 percent of all Alabama businesses. Of those, 92,183 businesses were minority owned.

Alabama’s small businesses employ 775,829 workers, which accounts for 47.5 percent of employed persons. In Limestone County, 48-53 percent of all employed persons worked for a small business.

Other facts to consider:

• Firms with fewer than 100 employees have the largest share of small business employment;

• The number of proprietors increased in 2016 by 2.3 percent relative to the previous year; and

• Small businesses created 15,718 net jobs in 2015. Firms employing fewer than 20 employees experienced the largest gains, adding 8,284 net jobs. The smallest gains were in firms employing 20 to 99 employees, which added 1,350 net jobs.

For more information, visit https://bit.ly/2HzWDOM.