Small Business Week (held from May 5-May 11 this year) is organized by the US Small Business administration. established in 1983 as a “national recognition event”, from then until now it is a chance for every American to shop local.
But it is so much more than that. this year for example, everyone was invited to participate in a free virtual conference over the first two days. in conjunction with SCORE Association, the SBA gave people the opportunity to network with other business owners, connect with industry experts and be involved in a hands on conference without having to actually leave their homes. Other events included: Small Business Week Hackathon; the National Awards Ceremonies and the NSBW Twitter chat.
During this week individuals are also encouraged to give small businesses attention and respect as well as buying their services/products. America comprises over 30 million small businesses, providing jobs for 59 million Americans. This is over a third of the entire workforce in the country and accounts for approximately 44 percent of the US GDP.
And Trump is a big supporter also. He said his administration is:
“A strong ally and advocate of small businesses and their ability to help America reach its full economic potential.”
Which is supported by the provision of the Tax Cuts and Jobs Act which lets small business owners deduct 20 percent from their taxable business income. Trump also issued Executive Order 13771 (E.O. 13771): “Reducing Regulation and Controlling Regulatory Costs [requiring] For every new regulation issued, at least two prior regulations be identified for elimination. [In addition] The cost of planned regulations [must] be prudently managed and controlled through a budgeting process.”