Governor Roy Cooper has proclaimed April 30 – May 6, 2023 as Small Business Week to celebrate the impact of entrepreneurs and small businesses on North Carolina’s economy.
Small business owner Molly Arnold of Fayetteville recently had the opportunity to travel to Washington D.C. for an event hosted by Meta for Business where she and several other small business owners from the area were given the opportunity to speak on the challenges that small/micro businesses face at the offices of Thom Tillis and Richard Hudson.
Arnold owns Rude Awakening Coffee House and Shop Cursive, two small businesses located in Downtown Fayetteville.
One of Arnold’s hopes is that in the future there will be more funding available to micro businesses specifically. She shared that oftentimes micro businesses and small businesses are competing for the same funds which can mean that a business with a team of 12 that earns less than $1 million a year is forced to compete with a team of 50 that earns close to $5 million a year. Providing further distinction between micro and small businesses could allow for funds to be more accessible to both groups.
Another barrier Arnold runs into is the fact that Fayetteville does not qualify for some of the funding and training opportunities afforded to smaller cities. North Carolina’s Main Street Program caters to towns with populations under 50,000 according to the NC Department of Commerce. Arnold hopes that there could be an opportunity for this program to expand to offer these resources to mid-sized towns as well.
Additionally, Arnold spoke of issues that concern her personally with her business which is that her employees have access to affordable health care and are continued to be paid a living wage, the latter of which can be difficult with the inflation we are seeing across the board.
In addition to this opportunity to voice their concerns, the attendees were invited to attend various seminars which covered topics ranging from formulating a disaster business plan to tips for using social media to promote your business.
Arnold also got to network with small business owners from across the country.
“I have found that small businesses are the backbone of communities, they’re the ones that hire and take care of their staff. They’re the ones that give back…They’re constantly giving even when it’s a stretch to give because they’re invested in their community. They’re invested in their customers’ lives,” remarked Arnold.
Consider shopping small whether you’re in need of a new blouse, a new book or making your weekly run for groceries. Small businesses are an integral part of our economy and community.
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