Alabama Declares National Small Business Week for 2025

News Summary

Alabama has officially proclaimed May 4 through May 11, 2025, as National Small Business Week, emphasizing the crucial role of small businesses in the state’s economy. Governor Kay Ivey supports this initiative, recognizing that small enterprises account for 99.4% of registered businesses in Alabama and employ 46.7% of the private sector workforce. The week will include events across Birmingham, promoting entrepreneurial opportunities and supporting local businesses through various initiatives, including pitch competitions and funding programs.

Alabama has officially designated May 4 through May 11, 2025, as National Small Business Week, highlighting the sizable role that small businesses play in the state’s economy and employment landscape. This proclamation, endorsed by Governor Kay Ivey, identifies small enterprises as the foundation of Alabama’s ongoing economic growth and stability.

In Alabama, small businesses constitute an astonishing 99.4% of all registered businesses, employing 46.7% of the private sector workforce. Over the past 25 years, employment figures in these small firms have experienced a growth rate of nearly 10%. The significance of small businesses is further underscored by their role in the state’s exports, with Alabama firms shipping goods valued at over $4.4 billion each year.

Recognition of Local Entrepreneurs

As part of the National Small Business Week celebrations, Governor Ivey recognized Kimberly and Larry Lewis, the owners of Huntsville-based PROJECTXYZ, INC., who have been named Alabama’s 2025 Small Business Persons of the Year by the U.S. Small Business Administration (SBA). This recognition not only celebrates their contributions but also illustrates the impact of small business leadership in the state.

The Landscape of Small Businesses in Alabama

The SBA reports a staggering more than 449,000 small businesses operating within Alabama, which has prompted various initiatives aimed at fostering their development and success. Governor Ivey’s annual proclamation reiterates the commitment of state leadership to bolster small business growth as a fundamental aspect of economic development.

In Birmingham, the city is hosting a week-long event, Birmingham Small Business Week, from May 4-10, featuring 15 events that will focus on topics such as economic mobility and community development. These events provide a platform for local entrepreneurs to engage with the community while showcasing their businesses.

Entrepreneurial Opportunities

During the Birmingham Small Business Week, entrepreneurs have the chance to compete in pitch competitions that serve as launching pads for their businesses. These competitions provide critical feedback and networking opportunities for participants, enhancing their potential for success. Programs such as the VITAL initiative aim to promote the participation of historically underutilized businesses in city contracts, further expanding opportunities for diverse entrepreneurs.

Support for Local Firms

In addition to pitch competitions, the city’s RISE program offers cash incentives and revolving loan funds specifically tailored to support Birmingham-based firms. The Building Opportunities for Lasting Development funding program has already benefitted over 3,000 small businesses, distributing more than $2.4 million in funding since its inception, illustrating the city’s commitment to small business sustainability and growth.

Additional Resources and Community Engagement

Efforts from the Mayor’s Office and the Department of Innovation and Economic Opportunity reflect a burgeoning recognition of the integral role that small businesses play in the local economy. The introduction of resources such as succession-planning workshops and discussions addressing the racial wealth gap also aims to strengthen legacy businesses, ensuring their longevity and success.

Local entrepreneurs, like Emondre Johnson, have shared their positive experiences stemming from participating in pitch competitions, which have catalyzed their business journeys. Johnson has expressed a commitment to fostering opportunities specifically for underrepresented individuals, revealing the community-oriented spirit that embodies many of Alabama’s small business leaders.

Conclusion

As Alabama embraces National Small Business Week, the focus remains on the dynamic contributions of small businesses toward job creation and economic prosperity. Through supportive initiatives and community engagement, the state continues to pave the way for current and future entrepreneurs to thrive.