by Amber Helsel
Events such as April’s Startup Weekend at Coalesce in downtown Jackson show the growth of Jackson’s entrepreneurship community. It’s important to understand the challenges those businesses may face and help alleviate them. Photo courtesy Crystal Kehtel/Innovate Mississippi
One of BOOM Jackson and the Jackson Free Press' biggest missions is to show people why they should support local business. Much of our coverage tends to center around local entrepreneurs and people.
They're important for the local, state and national economy. In fact, multiple studies have shown that on average, 48 percent of a purchase someone makes locally is recirculated in the community.
Local businesses are important to the economy at state, local and national levels. A June 2015 article from the Small Business Administration says that in the first three quarters of 2014, small businesses added
1.4 million net new jobs to the U.S. market.
However, as many small business owners could probably tell you, owning those types of businesses come with their own set of challenges. A recent study from research institute PolicyLink says that many small businesses want to give good jobs to their employees but often face obstacles.
The study says that though characteristics may vary based on the job, commonly cited attributes of a good job include the employer's ability to provide a living wage, benefits such as retirement, health care, and paid sick and vacation days, and a decent work environment with career advancement, job safety and security,
and job training.
The barriers small businesses may face in providing good jobs include a knowledge gap in systems such as payroll, operations and inventory, short-term costs such health care, living wages and job training, and misguided policies and incentives. The study says that most tax and economic development incentives often prioritize how many jobs a business creates as opposed to the type of jobs or who gets them, and this can lead to an uneven playing field.
PolicyLink says that communities can support local, small businesses in providing good jobs through understanding their needs and opportunities, and to also understand the different experiences, resources and challenges that certain business owners, such as immigrants, low-income people or African Americans, may face.
The study outlines strategies those in the business development ecosystem (investors, small-business lenders, economic development agencies, business agencies, etc.) to help small business succeed. They include providing assistance to business owners who may not have the technical knowledge to create good jobs, develop financial tools to help businesses achieve their good-jobs goals, support public policies and programs that make it easier for small businesses to provide good jobs and help them comply with new worker laws.
See the study at boomjackson.com.
Local businesses are important to the economy at state, local and national levels. A June 2015 article from the Small Business Administration says that in the first three quarters of 2014, small businesses added
1.4 million net new jobs to the U.S. market.
However, as many small business owners could probably tell you, owning those types of businesses come with their own set of challenges. A recent study from research institute PolicyLink says that many small businesses want to give good jobs to their employees but often face obstacles.
The study says that though characteristics may vary based on the job, commonly cited attributes of a good job include the employer's ability to provide a living wage, benefits such as retirement, health care, and paid sick and vacation days, and a decent work environment with career advancement, job safety and security,
and job training.
The barriers small businesses may face in providing good jobs include a knowledge gap in systems such as payroll, operations and inventory, short-term costs such health care, living wages and job training, and misguided policies and incentives. The study says that most tax and economic development incentives often prioritize how many jobs a business creates as opposed to the type of jobs or who gets them, and this can lead to an uneven playing field.
PolicyLink says that communities can support local, small businesses in providing good jobs through understanding their needs and opportunities, and to also understand the different experiences, resources and challenges that certain business owners, such as immigrants, low-income people or African Americans, may face.
The study outlines strategies those in the business development ecosystem (investors, small-business lenders, economic development agencies, business agencies, etc.) to help small business succeed. They include providing assistance to business owners who may not have the technical knowledge to create good jobs, develop financial tools to help businesses achieve their good-jobs goals, support public policies and programs that make it easier for small businesses to provide good jobs and help them comply with new worker laws.
See the study at boomjackson.com.
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