National Small Business Week

National Small Business Week

Entrepreneurs are business – minded people who take calculated risks of organizing their own business whenever they see an opportunity for their ideas to cater to the market. They are unique individuals who would rather be their own “boss” and serve their customers directly.

Being an entrepreneur takes a lot of passion, commitment and most of all very hard work. Starting your own business is not an easy task. Statistically speaking, due to underfunding and mismanagement, about 75% of start – up businesses fails on their first year, and about 90% of them close up on their second year. There is an organization in the United States that recognizes top entrepreneurs for overcoming these huge challenges. The U.S. Small Business Administration annually honors this esteemed group of individuals during the national small business week.

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It has been 47 years since the President of the United States proclaimed national sb week in 1963. It is a venue to recognize entrepreneurs for their contributions to the economic welfare of America, especially during the past few years of financial crisis. The theme for the 2010 national sb week was aptly put at “Small Business: Driving America’s Economy.” The event was held in Washington, D.C. and honored an estimated 27.2 million small entrepreneurs across the country under multiple categories. These people are huge contributors to the country’s economy because small businesses generate at least 60% to 80% of the most – needed new jobs in America. Small businesses drive innovation and competitiveness in America resulting to nearly half of Americans own or work for these small enterprises.

In the 2010 national sb week, the prestigious award of National Small Business Person of the Year was given to Waymon Armstrong of Engineering & Computer Simulations Inc. for providing the government and private sectors computer simulation services that will help the country prepare for natural disasters, medical outbreaks and even in times of war.

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