C.E.O RESOURCES
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Small Business Resources CEO believes that small businesses are an integral part of most communities. Yet today, they oftentimes face extraordinary challenges to staying in business and remaining profitable. Small businesses are a diverse subset of employers in Connecticut, yet they represent the majority of the state's businesses. In 2002, for example, according to the U.S. Census Bureau, Connecticut had approximately 169,631 firms (172,000 in 1997) employing about 1.5 million people (same in 1997). Of those approximately 149,000/88% (153,000/88% in 1997) had fewer than 100 employees and 132,500/78% (137,000/80% in 1997) had fewer than 20 employees. Minority owned businesses in 1997 (the most recent US Census Bureau information available) accounted for 20,409 firms in Connecticut. Women owned businesses that same year accounted for 72,393 firms. It should be noted however that between 22% and 15% of these firms for minority and women owned businesses respectively actually had paid employees, but were rather sole proprietorships or small business with the one employee being the owner. According to the Center for Women's Business Research in 2004, privately held women owned businesses in Connecticut generated more than $16 billion in sales and employed 153,659 people. Between 1997 and 2004, the number of such firms has increased 10.5%, however employment and sales decreased by 3.9% and 10.4% respectively. Additionally, Connecticut ranks 41st in the growth in the number of women owned firms between 1997 and 2004. Small businesses face daily challenges from mega stores like Walmart, Home Depot and the like that come into communities promising low prices, low wage jobs, and community revitalization. Despite such promises, within years and sometimes even months, small businesses will find themselves at a distinct competitive disadvantage trying to keep up with the super store offerings - many ending up out of business. Today, the small "mom and pop" shops that once represented the lifeblood of our communities are facing challenges to their very existence. Read more about the history of chain stores entering communities by Good Jobs First. To put a face on the small employers in our state, CEO would like to use this section of its website to feature small businesses in Connecticut, contributing to their communities, and selling valuable and important products and services. Some small businesses getting it right! Mahila Jewelry, owned and operated by Jennipher Young-Hall. For more about this up and coming business buying and selling jewelry from Nepalese Artisans, go to www.mahilajewelry.com. Resources for small businesses: Feel free to email us any other resources you have found helpful to beverleybrakeman@c-e-o.net. Small Business Administration |