By: Claire Bruns, InnovationHub

Goodyear’s InnovationHub is a proud supporter of small business owners and entrepreneurs. It is estimated that 99.9% of businesses in America are small businesses. They play a vital role in shaping the vibrancy and resilience of the American economy. From driving job creation and fostering innovation to spurring local development and contributing to community growth, the impact of small businesses extends far beyond their size. Join us as we explore how these dynamic enterprises serve as the backbone of America's economic prosperity.

1. Job Creation: Small businesses provide employment opportunities, helping to reduce unemployment rates and contribute to local economic development.
2. Innovation and Entrepreneurship: Being agile allows for quick adaptation to market changes, leading to the development of new products, services, and business models.
3. Economic Growth: They stimulate competition, fostering innovation and diversifying industries.
4. Community Development: They invest in local neighborhoods, contribute to the vibrancy of main streets, and create a sense of community identity and pride.
5. Tax Revenue: Small businesses contribute to government revenue through various taxes, which supports public services and infrastructure development.
6. Supply Chain Impact: Small businesses often form the backbone of supply chains, supporting larger corporations and contributing to the resilience and flexibility of the overall economy.
7. Global Competitiveness: Their innovation and ability to adapt quickly enhance the country's standing in the global marketplace.
8. Diversity and Inclusion: They promote diversity and inclusion, which fosters creativity and brings different perspectives to the business landscape.
9. Adaptability to Market Changes: They can pivot more quickly than larger corporations, allowing them to adapt to market changes and economic uncertainties efficiently.
10. Customer and Community Relationships: They often excel in building strong relationships, offering a personal touch that fosters customer loyalty and strengthens the social fabric of local communities.

Goodyear’s economic landscape is made up of these small but mighty businesses. The InnovationHub thanks them for their dedication and innovation.