Small Candle Business
Welcome to Scented Designs, a woman-owned candle company in San Jose, California since 2016 and a proud, ever-growing small business.
Perhaps you found us on Google or perhaps someone referred you to us. Either way, we're so glad you're here! And if you are here, we assume that you probably care about some of the same things we do, such as high-quality handmade products and supporting small businesses in the community.
Supporting Small Businesses
But have you ever wondered what makes a business a small business anyway, or why it's so important to support them?
As a proud small business owner, I wanted to take a moment in today's blog post and actually dive into what it means to be a small business and why it's so important for consumers (and larger companies) to support small businesses across the United States.
Before diving in, let's consider the term 'small business.' It's one that's thrown around a lot (e.g. Small Business Saturday in November), but what actually defines a business as a small business? And is it 'bad' or 'less than' in some way to be a small business vs. a 'big' business? Let's see:
What is a Small Business?
In the United States, a small business is defined by the Small Business Administration (SBA) as a for-profit, independent enterprise that is not dominant in its field of operation. The definition of a small business can vary depending on the industry and the number of employees.
Generally speaking, a small business is considered to be one that:
- has fewer than 500 employees for most manufacturing and mining industries
- has less than $7.5 million in average annual receipts for most non-manufacturing industries
- is independently owned and operated
- is not dominant in its field of operation.
These standards can vary depending on the specific industry, as the SBA has different size standards for different types of industries. And of course some states and local governments may have their own definition of a small business as well to help them determine who is eligible for certain programs or services.
But overall, 'small business' may be even bigger than you thought. I mean, 500 employees is nothing to sneeze at, am I right? If Scented Designs had 500 employees, I'm not sure I would feel like a small candle business anymore!
So why support small businesses?
When given the option to support either a small business or a larger company, there are a lot of reasons why you should consider supporting a small business instead (beyond the awesome product like artisan, hand-poured soy candles, of course!).
Whether you are shopping as an individual or representing your company and shopping for employee gifts or client appreciation gifts, here are 5 reasons you should consider supporting a small business:
1. Unique shopping experience
Small businesses offer a unique shopping experience that can't be found at big box stores. They often have a personal touch and are more likely to offer unique products. Consider our custom label candles and gift box options, for instance. The level of personalization we can offer customers looking for personalized wedding favors, customized client gifts, or custom branded corporate gifts is something that won't likely be matched by large, more impersonal companies.
2. Job creation
Small businesses are the backbone of job creation in the United States. They create jobs for the local community and contribute to the overall economic growth of the country. According to data from the Small Business Administration (SBA), there are over 30 million small businesses in the United States. These small businesses employ around 47.5% of the private sector workforce and contribute to about 44% of the U.S. economic output. Additionally, small businesses are responsible for creating about 2 out of 3 new jobs in the country
Small businesses are often the source of new ideas and products. They are more agile and can adapt to changing market conditions quickly. When small businesses succeed, they drive innovation in the economy.
4. Local economy
Small businesses are more likely to source goods and services from other local businesses. This creates a ripple effect, strengthening the local economy. When you shop at a small business, you are not just supporting that business, you are also supporting other local businesses.
Small businesses are often an integral part of the community. They sponsor local sports teams, donate to charity, and participate in community events. When small businesses thrive, the community thrives. So if you're a leader at a 'bigger' company, you can also support small businesses by partnering with small businesses and encouraging your employees to volunteer and support local small businesses.