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National Restaurant Association - Today's special: Celebrating National Small Business Week

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Today's special: Celebrating National Small Business Week

Did you know that this week is National Small Business Week?

Since 1963, the Small Business Administration (SBA) has recognized the contributions of restaurateurs and other small business owners.

According to the SBA, more than half of all Americans either own or work for a small business. From April 29 to May 5, the SBA is highlighting the work of our nation’s top small businesses, entrepreneurs and small business advocates, who help grow our economy, create jobs and drive innovation.

As small businesses, restaurants are part of the Fabric of America. Often, they provide first jobs to many people in the local communities they serve, teach them the skills they need to succeed, instill in them a strong work ethic and sense of personal responsibility, and offer them an opportunity to achieve the American Dream.

Here's how restaurants impact our economy and communities:

  • The SBA defines full-service restaurants as small businesses if they generate sales of less than $7.5 million a year and $11 million per year for limited-service restaurants. Both of those cover 99 percent of restaurant businesses today
     
  • More than nine in 10 restaurants have fewer than 50 employees
     
  • More than seven in 10 restaurants are single-unit operations
     
  • More than half of all adults have worked in a restaurant at some point in their lives
     
  • One in three Americans got their first job at a restaurant
     
  • Eight in 10 restaurant owners say their first jobs were entry-level positions in the restaurant industry
     
  • In 2018, the restaurant industry will employ approximately 15 million people. It will add 1.6 million jobs over the next decade, with its total employment reaching 16.3 million by 2027.

In his proclamation declaring this week National Small Business Week, President Trump said small businesses are at the heart of America, with 30 million of them employing nearly 58 million Americans, or 48 percent of the labor force.

“This week, we celebrate all the entrepreneurs who have taken a risk to start and grow a small business,” he said. “They are driven by a belief that they can do something better, smarter, and more efficient than what has been done before. They make our neighborhoods vibrant places to live and work. They invest in their neighbors and employ millions of Americans. When they succeed, we all succeed.”

Learn more about the National Restaurant Association and about the Small Business Administration

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