By |Ciara Speller
According to the City of Boston, small businesses ( unique Boston businesses at that) are thriving and boosting Boston’s economy. Roughly 95% of Boston’s businesses are sole proprietors and firms with less than 50 employees, and/or less than $5 million in revenue.
Boston’s 40,000 small businesses are said to have generated $15 billion in annual revenue and approximately 170,000 jobs.
Martin J. Walsh, Mayor of Boston, has encouraged Boston residents to recognioze the value that Boston’s small businesses add to the community, as well as the character that each of these businesses bring to certain communities.
According to Mayor Walsh:
“Our small businesses enrich Boston culturally and economically, and I want to thank each of them for doing business here. My thanks also to the Small Business Advisory Council for their time and talent, to Next Street and Mass Economics for their hard work and research, and to Co-Chairs Chief John Barros and Chief Sheila Dillon and their dedicated teams for all that they have done and, most importantly, all that they will do next.”
Boston has created a Small Boston Business Plan that has three specific goals.
The first goal- Make the small business economy thrive.
The second goal- Enhance neighborhood vibrancy.
The third goal – Foster economic and social inclusion and equity.
In order to make these goals a reality, the plan has proposed policies and programs to foster a high-quality, efficient support system for all small businesses which will develop tools, programs, and policies that address specific gaps in key small business segments.
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