It could be the cozy coffee shop down the street, the barber with the best stories, or the local construction business that’s been in business for years. National Mom and Pop Business Owners Day is a day to celebrate all of them. It’s observed every year on this day, March 29th. We want to take this opportunity to shine a spotlight on these one-of-a kind businesses and the history behind why we recognize this day.
The origin of Mom and Pop Business Owners Day began with Rick Segal naming this day for his parents. They opened a hat shop called Ruth’s in Everett Massachusetts on March 29th, 1939 and eventually expanded into a large specialty clothing store for women. After almost 60 years of success and $2 million in revenue, they eventually closed their doors in 1997. How’s that for inspiration?
According to the U.S. Small Business Administration, 28 million small businesses in America account for 54% of all U.S. sales and provide 55% of all jobs since the 1970’s. They are key contributors to a growing and prosperous economy. So we can truly say that that small businesses are the heartbeat of America.
While this holiday isn’t as well-known as Small Business Saturday, it’s gaining more recognition. Often times, mom and pop store fronts are handed down from generation to generation and steeped in unique tradition, but all small business owners are a different breed. They have the perseverance and entrepreneurial spirit to chase down their dreams and make them a reality. These folks truly deserve the recognition and here at Reliant Funding, we salute you!