National Small Business Week 2017: Our Takeaways

National Small Business Week 2017 recently happened from April 30th-May 6th. Many of you probably missed it, though. After all, running a small business frequently leaves little time to stop and pay attention to things like this going on. If you did miss it, don’t worry! We’ve got you covered.

Here are our two biggest takeaways from National Small Business Week 2017.

Small Business Persons of the Year

A fantastic aspect of National Small Business Week each year is the celebration of small business success stories. The peak of this is the award for Small Business Person of the Year. This year, there were two winners: the husband and wife team behind Maui Brewing Company, Garrett and Melanie Marrero.

The Marreros started Maui Brewing Company in 2004 and have since grown their business to be the largest craft beer producer in Hawaii—making more than 19,000 barrels of beer and bringing in more than $10 million in revenue per year. They currently employ 360 people, with plans centered on continued expansion and doubling to between 700 and 800 employees by the end of 2018.

Maui Brewing Company’s incredible success is the kind of small business success story we absolutely love to see here at Employer’s Resource. Garrett and Melanie Marrero had a dream, and, exemplifying the spirit of entrepreneurship, they have gone out and made it a reality while still marching forward to even bigger goals.

Linda McMahon Interview

The other big thing from National Small Business Week that we wanted to let you know about was an interview Entrepreneur conducted with recent appointee to Head of the Small Business Administration, Linda McMahon. In this interview, McMahon answered questions that gave further insight into the direction of the SBA under her leadership.

See More About Linda McMahon: Linda McMahon: From Wrestlemania to Head of the Small Business Administration 

Here are some highlights from that interview we found noteworthy and think small business owners should know (quotes edited for length).

On what changes she would like to make to the SBA:

“I think that the Small Business Administration absolutely has an obligation to make more people aware of small business. But in order to do that there has to be greater knowledge of SBA. And one of the things that I want to do, my vision for SBA is to raise that level of awareness all over the country. I think the thing that really makes SBA really grow and be a champion of small business are the resource programs.

I want to raise the profile and the level of SBA. I want to have a different marketing message and have it utilize social media more and more of the digital platforms because we’re behind in that.”

On tax changes she would like to see enacted this year:

“The biggest thing that I hear from small businesses all over the country, many of them are as S-corps, not C-corps. They are LLC’s and sole proprietors. So typically they are just taxed, their business income comes in and they are taxed as ordinary revenue. They typically then pay higher rates for their business income than other businesses do.

What they tell me is [with less tax], ‘I’d hire more people and expand my business. I would spend more money on marketing to drive and grow my business.’ You know when you have more money in your pocket you have ready access to capital that you don’t have to borrow.”

How did your small business celebrate National Small Business Week? Did you see any inspirational stories about small business success you thought were especially noteworthy? 

Let us know in the comments! 

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