National Mom and Pop Business Owners’ Day is a holiday that recognizes the critical role small businesses play in the economy of the United States. This day is celebrated annually on March 29th, and people can celebrate this holiday by taking a few moments to show the businesses in their area a little bit of love and support.

The History of National Mom and Pop Business Owners’ Day

Even though some people might not realize it, this holiday has been celebrated for over 81 years. It was a holiday that was started in 1939 by Rick and Margie Segel. They founded this holiday to celebrate their parents’ successful hat shop. It’s a holiday that has been celebrated ever since.

Facts About Small Businesses

Since by definition a mom and pop business is a small business, we’d like to share with everyone some facts about small businesses that we thought were fascinating.

Most U.S. Small Businesses Are One-Person Operations

One of the most interesting facts about small businesses in the United States is that the vast majority of them are owned by just one person. It’s estimated by the U.S. Small Business Administration Office of Advocacy that 70% of small businesses are operated by a single individual.

Small Businesses Employ a Lot of People

Another interesting fact is that small businesses account for 99.7% of U.S. employer firms, 64% of new private-sector jobs, and 49.2% of private-sector employment. It’s also worth mentioning that small businesses account for 46% of all private-sector output.

There Are a Lot of Small Businesses

There are over 28 million small businesses in the United States, and only 18,500 firms employ 500 or more people. Home-based businesses account for 52% of the small business shares, while small business corporations only account for 19.5%.

Small Businesses Pay Almost Half of U.S. Employee Payroll

What a lot of people may not realize is that many people receive their paychecks from a small business. It’s been estimated that up to 44% of U.S. payroll is paid every year by small businesses.

Celebrating National Mom and Pop Business Owners’ Day

There are a number of different ways that a person can celebrate this holiday. The first way is by spending some of their money at a local small business that they enjoy. Another way is to spread the word about a small business using the hashtag #NationalMomAndPopBusinessOwnersDay, and the last way is to simply write a small business owner a thank you note for the service they provide. If all of us take the time to celebrate this holiday, we can help small businesses remain strong all year long—and that’s very good for the economy.