New Report Highlights Small Businesses’ Deep Ties to Communities Beyond Economic Contributions

A newly released report from the National Federation of Independent Business (NFIB) reveals that small businesses are far more than economic drivers in their communities—they are also vital contributors to civic and charitable causes. The findings, published by the NFIB Research Center, shed light on the extensive volunteerism and financial support small business owners provide to local organizations and initiatives.

“This report might come as a surprise to some, but not for us at NFIB,” said Anthony Smith, NFIB’s Oregon state director. “It confirms with good data what we already knew about small business owners in our local communities, across the state, and nationwide—they are incredibly generous with their time and resources.”

The report, based on a nationwide survey of NFIB-member businesses, offers striking statistics:

• Volunteerism: Approximately 76% of small business owners reported volunteering their time for civic groups, charities, youth sports programs, schools, or religious organizations over the past year.
• Financial Contributions: An overwhelming 90% of respondents said they provided financial support to local causes within the same period.
• In-Kind Donations: More than 63% of small business owners contributed in-kind resources, such as providing meeting spaces, donating inventory, or offering items for fundraising auctions.

The NFIB survey captures a national snapshot of its members, who typically employ between one and nine people and report gross 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 kick off 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 is undoubtedly near the top of most small business owners’ Christmas wish lists. We can all help with that.”

He added that while small businesses seek strong sales, they often face challenges like burdensome regulations and tax policies, which remain in the hands of policymakers in Salem and Washington, D.C.

The report demonstrates that small businesses are integral to their communities beyond their role as job creators. Through volunteerism, financial aid, and resource sharing, they provide critical support to civic organizations, schools, and charities.

For example, many businesses donate excess inventory for local causes, offer space for community events, or contribute auction items to raise funds. These acts of generosity underscore the multifaceted role small businesses play in enriching their communities.

Image: Envato

This article, “New Report Highlights Small Businesses’ Deep Ties to Communities Beyond Economic Contributions” was first published on Small Business Trends