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Show Small Business Week May 9-15 Despite continuing economic uncertainties, the determination to start a new business remains strong as the Nation celebrates Small Business Week, May 9-15. Statistics compiled by government and private sources show a sharp rise in business bankruptcies over the past eighteen months. But at the same time, new small businesses have opened their doors at a higher than normal rate, the U.S. Small Business Administration reports. Incorporations of new businesses for the fiscal year ending Sept. 30, 1981, totaled about 575,000, 10 percent higher than the previous year. The bulk of these incorporations represented small companies. "The American dream of owning your own business, of being your own boss, clearly remains strong in our country," says Frank Swain, SBS's Chief Counsel for Advocacy. Other SBA studies show that small firms continue to be the main source of new jobs. Businesses with fewer than 20 employees, SBA said, create two out of every three new jobs. Small businesses already account for about half of total U.S. employment about 50 million jobs, providing the livelihood for more than 100 million Americans. These and other small business contributions to the economy will be highlighted during National Small Business Week, May 9-15. During that annual event, which is sponsored by SBA, outstanding small business entreprenuers from each state will be honored at ceremonies in their home towns and in Washington, D.C. The week will be climaxed by selection of the Small Business Person of the Year at the White House. |