New Report Highlights Small Businesses’ Deep Ties to Communities Beyond Economic Contributions
A recently released report from the National Federation of Independent Business (NFIB) reveals that small businesses are much more than economic drivers in their communities—they also play an important role in social and philanthropic values. The findings, published by the NFIB Research Center, shed light on the many volunteer and financial support small businesses provide to local organizations and programs.
“This report may come as a surprise to some, but not to us at NFIB,” said Anthony Smith, NFIB Oregon regional director. “It confirms in great detail what we already know about small business owners in our communities, across the region, and nationally – they are incredibly generous with their time and resources.”
The report, based on a national survey of NFIB member businesses, provides some startling statistics:
- Volunteering: About 76% of small business owners reported donating their time to community organizations, charities, youth sports programs, schools, or religious organizations in the past year.
- Financial Contributions: A whopping 90% of respondents said they had provided financial support to local issues during the same period.
- Charitable Donations: More than 63% of small business owners have donated services of some kind, such as providing meeting facilities, donating equipment, or providing fundraising materials.
The NFIB survey captures a national snapshot of its members, who typically employ between one and nine people and report annual sales of about $500,000.
Small Business Saturday: A Chance to Show Support
Smith emphasized the importance of community support during the upcoming holiday season. “November 30 is Small Business Saturday—a great day to start the 2024 holiday season by showing our appreciation for Oregon’s small businesses,” he said. “Good sales from now until the end of the year are no doubt very close to the Christmas wish list of small business owners. We can all help with that.”
He added that while small businesses want strong sales, they often face challenges such as difficult regulations and tax policies, which rest in the hands of policymakers in Salem and Washington, DC.
The report shows that small businesses are important to their communities beyond their role as job creators. Through volunteering, financial assistance, and resource sharing, they provide valuable support to community organizations, schools, and charities.
For example, many businesses donate excess inventory to local causes, donate space for community events, or donate auction items to raise money. These acts of philanthropy emphasize the diverse role that small businesses play in enriching their communities.
Photo: Envato
