Small businesses make a big impact on economy

This is National Economic Development Week, an initiative of the International Economic Development Council to increase awareness of local programs that create jobs and increase quality of life. This week is also National Small Business Week. Hosted by the U.S. Small Business Administration, Small Business Week recognizes the critical contributions of America’s entrepreneurs and small business owners.

Even though the events are hosted by two different organizations focused on different aspects of economic development, it is fitting that they occur at the same time. Small businesses are a key contributor to successful economic development. In Oklahoma more than 50% of the private workforce is small businesses and approximately 2 out of 3 people in the Oklahoma City metro are employed by an establishment or business with under 100 employees.

Our city is continually ranked as one of the best places to have a small business. Recently Wallet Hub, Lending Tree and Inc. all named Oklahoma City as one of the best cities to start a small business by looking at factors such as business costs, access to resources and business environment.

Small businesses in central Oklahoma have an outstanding resource in the Oklahoma Small Business Development Center, a joint partnership of the U.S. Small Business Administration, the Oklahoma Department of Commerce and University of Central Oklahoma. This organization provides seminars, resources, and one-to-one assistance. I am proud that through collaborations and partnerships from the Alliance for Economic Development, city planners and city leadership, the OKC Chamber and residents we have created an environment where small business can originate and thrive.

Read the full article at The Journal Record