As a small business owner myself, I realize the important impact of small business to the rebirth of New Orleans.
I just read a great piece from the the New Rules Project about the impact that local business have on our economy. It's surprisingly more than 20% more than big box retailers like Walmart, Target, Home Depot, etc.
"[A] noteworthy finding of the study is that locally owned businesses require far less land to produce an equivalent amount of economic activity. The study found that a four-block stretch of Magazine Street provides 179,000 square feet of retail space, hosts about 100 individual businesses, and generates $105 million in sales, with $34 million remaining in the local economy. In contrast, a 179,000-square-foot SuperTarget generates $50 million in annual sales, with just $8 million remaining in the local economy, and requires an additional 300,000 square feet of space for its parking lot."
It's obvious that small businesses are the backbone of New Orleans and its recovery. That's why we're here to focus on the details while small business owners can focus on the big picture. The easier we make it for small business owners, the more money they can pump back into the recovery of a city we all love so much.
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