This week is National Small Business Week, an opportunity to celebrate and support the almost 28 million small businesses that are the economic engines of our country. They employ 60 percent of the nation’s workforce. They pay 44 percent of the country’s payrolls. They have generated 65 percent of the new jobs since 1995.
A survey released this week by Biz2Credit, an online lending platform for small business, listed our region, the Riverside-San Bernardino metro area, as the number one best small business city in America.
The annual Best Small Business Cities in America Study is based on a weighed average of data on Biz2Credit customers across the country. The survey looks at the health of small businesses in each metro area, the rate of small business creation and the economic ecosystem for entrepreneurs, including the cost of doing business, tax climate and the pool of local talent.
“The Riverside-San Bernardino area is a hub for IT, advanced manufacturing, food processing, health and medicine and professional services. The ecosystem for growth companies is strong, since it has such resources as incubators, accelerators and co-working spaces, as well as a Shop Riverside campaign to promote local businesses,” Biz2credit said in a press release.
According to the survey, small businesses in Riverside-San Bernardino had average annual revenues of $1,400,960, ahead of the No. 2 city, New York, where average annual revenues were $1,269,859. San Francisco-Oakland placed third, with average annual revenues of $671,000.
Here at the VOICE we want to do our part to support the small business community in our region. We are developing a special issue highlighting small businesses in Riverside and the surrounding communities, if you would like to nominate a deserving small business, please contact us: email@example.com. And do your part to support the small businesses in your city by shopping local.