When it comes to birthdays and anniversaries, 50 is a big number
(the difference being most people eagerly anticipate their 50th
anniversaries and dread their 50th birthdays). But both occasions
are meant to be celebrated, so let's all wish the SBA a happy
50th anniversary.
Yes, despite what some may believe, entrepreneurship was not
born in the go-go '90s--the SBA has actually been helping small
businesses become big businesses since President Dwight D.
Eisenhower launched it in July 1953 to "aid, counsel, assist
and protect, insofar as possible, the interests of small-business
concerns." Over the years, companies like FedEx and Apple
Computer have received some sort of SBA assistance. Despite this,
the federal agency has sometimes had to fight for its life, with
various politicians trying to "starve" it--via
devastating budget cuts--out of existence. But like the small
businesses it is mandated to help, the SBA hung tough and
survived.
After 50 years, most Americans--as well as people around the
world--have certainly changed their views of small business. Most
of us know the drill by now: Nearly every U.S. business (about 99
percent) is a small business. You employ more than half of all
Americans and contribute more than 50 percent of the U.S. GDP. You
are the job creators (the entrepreneurs of the '90s created the
overwhelming majority of new jobs in that decade) and the
innovators. And while recessions may slow you down a bit, they
don't stop you. They can't stop you, because as the song
goes in the Tony Award-winning smash Hairspray: "You
can't stop an avalanche as it races down the hill."
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One of the joys of my job is, I get to see this entrepreneurial
juggernaut in motion. I recently came back from eBay Live!, where
more than 10,000 eBay sellers converged to meet, mingle and learn.
Now, many people probably dismiss eBay sellers as hobbyists or
owners of very tiny businesses. And surely, many are. But thousands
came to seminars to find out how to improve their operations, write
a business plan and find sources for new products. There are many
eBay entrepreneurs (and the numbers are increasing daily) who are
not only operating real businesses, but have also grown them into
million-dollar enterprises. (You can meet a few of them or find out
how to become one of them in "Let the
Bidding Begin.")
Companies like eBay have redefined retail. If you are a
retailer, you are obviously aware that your competition has
increased at least a thousandfold as consumers can now choose to
shop online as well as in your store. How can you compete? Of
course, you can join them and add an online store to your
brick-and-mortar shop. But you also need to learn how to make more
customers come into your stores. A good place to start doing that
is with our "Talking
Shop" feature, where branding expert and Entrepreneur
contributor Elizabeth Goodgold got megasuccessful retailers like
Anthropologie, Build-A-Bear Workshop, ESPN Zone, Hot Topic and
Starbucks to share some of their success secrets.
Small business sure has come a long way since the SBA was
formed, and yes, to use the cliché, we have a long way yet to
go. Some of you are still confronting the same challenges that
small- and midsized business owners faced 50 years ago, while
others are confronting a whole new set of issues. When you first
opened your doors, you knew it wouldn't be easy, but my guess
is, you'd all say it's been worth it.