Writer's Block

The Impact of Small Businesses
Mar 1, 2024
Dan Copeland, President/Publisher
Writer's Block

Our economic development leaders in northeast Indiana do great work. They have secured a number of high-profile business-growth successes in recent years and continue to bring new and exciting projects to the region. Projects like the new Google facility, beautiful new buildings in downtown Fort Wayne and the Amazon facilities scattered throughout the area are examples of highly successful business attractions.

These are all great for our community, bringing new jobs, people, technology and money with them. Additionally, these larger projects contribute to the creation of support businesses that grow our economy even more. Oftentimes, these support businesses are smaller, locally-owned businesses.

Small businesses, the lifeblood of almost every local economy, spring up around the big projects. Just look at the Dupont Road/I-69 interchange on the north side of Fort Wayne. Before Parkview Regional Medical Center was built in 2012, there was not a lot going on in that area. Today, it is a thriving commercial hub with hundreds of smaller businesses serving the needs of everyone who visits the area. If you didn’t know it, you would think the area has been prosperous for decades.

Small businesses are vital for job creation. They serve as engines of employment, providing opportunities for individuals to gain skills, earn income and contribute to their communities. According to the Small Business Administration, small businesses account for a significant portion of job growth in many countries, making them essential for reducing unemployment rates and fostering economic stability.

Small businesses are hubs of innovation. Their agility and flexibility allow them to respond quickly to market demands and develop creative solutions to address consumer needs. Many groundbreaking inventions and technologies originate within small entrepreneurial ventures, driving progress and competitiveness.

Small businesses are drivers of economic vitality, innovation and social cohesion. Their significance extends far beyond their size, making them indispensable components of thriving economies. Therefore, it is essential to recognize, support, and nurture small businesses to ensure continued economic prosperity and progress.

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