Today I had the honor of speaking at the 2010 Rhode Island Salute to Small Businesses, sponsored by the Small Business Administration, where awards were given to outstanding small business owners in a variety of categories (for a full list of award-winners, click here).
While big companies often get the headlines, small businesses truly are the backbone of Rhode Island’s economy—and it’s been a tough stretch for them, making it all the more important to take time to recognize our successful small business owners.
Government should be a partner in helping small businesses achieve success. As chair of the Small Business Advocacy Council, I have made my focus the specific challenges facing our small businesses, such as access to credit, unpredictable energy costs and rapidly rising health insurance premiums. At the council, we have brought experts in to provide businesses with the best practices to weather these trying economic times.
This is also an excellent opportunity to remind everyone to “buy local” when we can. I launched my Buy Local RI initiative last year to expand opportunities for local independent businesses and bolster the state economy. When Rhode Islanders buy locally, they have a significant impact. Studies have established that 50 percent more of each dollar spent in a locally owned business remains in the community’s economy.
So my sincere congratulations to all those small business owners who received awards this year, and to all those small business owners who have persevered through this tough economy and continue to be a bright spot in our state’s economy. Buy Local RI!