President Obama has declared that this week, May 5 to May 8, is National Small Business Week (NSBW) after the celebration officially kicked-off in South Florida earlier today. The annual one-week event — which sponsors local festivities and award ceremonies — commemorates some of the nation’s top entrepreneurs. Hosted by the U.S. Small Business Administration (SBA) and inspired by this year’s theme of “Dream Big, Start Small,” the agency plans to throw national events in Los Angeles, New York City, San Antonio and Washington, D.C. to celebrate the innovation movement inspired by local businesses.
In the President’s SBA proclamation, today, he described small businesses as “the backbone of our economy, employing half of our country's private sector workforce and creating nearly two out of every three new jobs in our country … We are focused on injecting capital into emerging, entrepreneurial communities, supporting ventures operated by women, veterans, and underserved populations.”
Each day this week a different city and its businesses leaders are highlighted by a specialized event hosted by the SBA and led by SBA Administrator Maria Contreras-Sweet. The celebration wraps up on May 8 in the District with the “InnovateHer Finals” event, which is set to take place at the Washington Post’s HQ on 15th street. This event will be a live pitch competition featuring 15 entrepreneurs, pre-selected by the SBA, whose ideas/products show the greatest potential to support women and families.
Competitors will pitch their ideas to a panel of “expert judges” and the winner will receive a $15,000 cash prize from Microsoft. (It is unclear at this time who these entrepreneurs and judges are. DC Inno has reached out for comment and will update this story if/when a list is made publicly available.)
During his talk this morning regarding NSBW 2015, President Obama would go on to say: "Our small businesses represent what is best about our Nation – the idea that with determination and responsibility, anyone can build a better life for themselves and their loved ones … This week, we recognize the role small businesses play as pillars of our communities and engines of our growing economy, and we rededicate ourselves to fostering the entrepreneurial spirit that has forged the strongest economy the world has ever known.”
NSBW sponsors include, Chase Bank, Microsoft, Score, ADP, Office Depot, Facebook, Visa, PayPal and PBS, among others.
