The McKinney Chamber of Commerce is made up of over 1400 members with well over 80% of our members considered small businesses. It was important to our organization to support Small Business Week the first week in May and highlight many of the 1400 businesses that are members of our 5-Star Accredited Chamber.
Selecting businesses that have been part of the community and the Chamber for an average of 10 or more years, the entire staff personally visit over 20 of our small business members during our 4th annual Tour. Each member we visited was able to share more about their unique business with FB Live and many of those featured posts received over 2,000 views that week.
Other businesses were highlighted through our digital marketing channels with a daily newsletter which was boosted on FB and on our community website, McKinneyOnline.com.
Here are some facts about why small businesses are so important to our local and US economy!
Did you know that, according to the US Small Business Association, there are 30 million small businesses in the US that employ 47.8% of U.S. workers? In a recent blog post on Digital.com, “Small Business Statistics: Everything You Need to Know in 2019, Katie Horne highlighted some interesting facts about small businesses in the US including the fact that small businesses have historically added more jobs each year than large businesses of over 500 employees.
For our small business owners, here are some tips and trends that are impacting your business success this year.
According to Forbes in a January 2019 article The Top Five Small Business Trends to Monitor in 2019, savvy small business owners must consider the latest trends in talent acquisition and retention.
- Tight Labor Market- More competition means compensation packages must be in line with regional trends.
- Health and Wellness Benefits & Wearable Technology – personalized health and wellness benefits are the next most important consideration for retaining your top talent. Wearable activity and fitness trackers are a great way small businesses can help keep employees healthy, increasing productivity and lowering healthcare costs.
- Technological Advances – innovation and technology contribute to the rise of remote workers and can allow for greater flexibility and drive cost savings for both the employee and the employer when looking at office needs.
- Communication – Consistent and transparent employee communication is essential for creating a thriving company culture and promoting a healthy business environment.
Next time you do business with one of the small businesses around the City of McKinney, thank them for their contribution to our economy and for keeping McKinney a great place to live, work and play!