PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

FACT OF THE WEEK: Santa’s Special Helpers – U.S. Small Businesses

By at 20 December, 2016, 12:29 pm

We all know how critical the elves are to the entire Santa Claus Christmas operation. Indeed, elf productivity is legendary. However, even Santa and his elves could not accomplish all the gift-producing and gift-giving on their own. Make no mistake, small businesses are critical helpers to Santa Claus.

For example, when you look at the production of assorted Christmas gift favorites, it could not get done without small business. Consider just a few examples:

Toys

Topping the Christmas list to Santa from every good little girl and good little boy are various toys. It turns out that among U.S. doll, game and toy manufacturing employer firms, 87 percent have fewer than 20 workers, and 97 percent less than 100 employees.

Sporting Goods

Also big on the list are assorted sporting goods. As for sporting and athletic goods manufacturing employer firms, 82 percent have less than 20 employees, and 95 percent fewer than 100 workers.

Cooking Instruments

For the cook in the family, getting that just-right cooking appliance can make for a happy Christmas, while pleasing everyone around the table for Christmas dinner as well. Among household cooking appliance manufacturing employers, 62 percent have less than 20 workers, and 82 percent less than 100 workers.

Jewelry

Of course, another favorite gift, particularly from dads to moms, is jewelry. Again, small business is essential. Among jewelry and silverware manufacturing employer firms, 89 percent have less than 20 workers, and 98 percent less than 100 workers.

Clothing

And we cannot forget clothes at Christmas time – the gift that children generally don’t want to receive, and depending on whether the sweater is nice or ugly, adults might be up in the air as well. In terms of clothing (cut and sew apparel) manufacturing, 85 percent have less than 20 workers, and 97 percent less than 100 workers.

Sure, Santa relies on his elves to make Christmas happen, but U.S. small businesses also are essential to Kris Kringle being able to spread the gift of Christmas cheer.

Merry Christmas!

Raymond J. Keating, Chief Economist

 

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