Why Small Business Matters

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Why Small Business Matters

Amit Mathradas, General Manager and Head of Small Business NA, PayPal

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For #SmallBizWeek, @PayPal is celebrating the #innovation that propels local commerce and global impact http://bit.ly/2qK6c1B
Friday, May 5, 2017 - 5:00pm

CONTENT: Blog

Small businesses mean more than just your favorite sandwich or the best coffee you’ve had since 2002. They bring commerce to local communities, drive innovation and contribute to the global marketplace as well. In fact, more than half of all employees in the US are employed by 28 million small businesses.
 
It’s not an understatement to say that small businesses are the lifeblood of the US economy. Small businesses matter.
 
At PayPal, we’re lucky to be a part of some of the amazing successes being achieved by small businesses around the globe. Watching businesses grow while giving back is truly rewarding an proves that doing good can also be good for business.
 
We are celebrating some of these successes this week - during National Small Business Week - to highlight some of the great work being done by three entrepreneurs – CAUSEBOX, Roma Boots, and Fitmark. We’re hoping their stories will serve as inspiration for other entrepreneurs to pursue their ideas and start their own business – just as they did.
 
CAUSEBOX sources socially conscious, sustainable and ethically made products for women, and packages them in subscription boxes. Founders Brett McCullom and Matt Richardson built the business by working with brands that enable local artisans around the world to provide for themselves.
 
“We recognized that it was difficult to find socially conscious, sustainable and ethically made products. So, we created the box that we needed,” said Brett McCullom and Matt Richardson, the founders of CAUSEBOX.
 
Roma Boots’ slogan is “giving poverty the boot” and it definitely fits their mission. For every pair of boots they sell, they donate a pair to a child in need. In addition to the boot donations, 10% of their proceeds go to educational initiatives geared to  help kids in 25 countries around the world.
 
“I realized that there was a big need to be served in Eastern Europe: there was a big lack of proper footwear. At that time, rain boots were becoming very popular, so I decided to sell and donate boots,” explained Samuel Bistrian, the founder and CEO, and Beatrice Pitocco, the Vice President of Sales and Marketing, of Roma Boots.
 
Fitness and meal prep bag maker, Fitmark, donates one bag for every $100 they net through their Fitmark website sales. To date, they’ve donated over 13,000 backpacks to the Boys and Girls Club of America.
 
“I think it’s important for people to give back as little or as much as they possibly can, because if you were afforded the right to operate a business, you should have enough time and money to give back,” remarked Mark Samuel, the founder and CEO of Fitmark.
 
PayPal is proud to partner with small businesses around country and around the globe – whether it’s to help them start a new business, or grow the businesses they already have. It’s always satisfying to see stories like this about companies that are making a difference.
 
From 2015 to 2016, small businesses on PayPal grew 36% year over year – and we are grateful to these businesses for recognizing that we are more than a consumer payment option. We are a partner that can help them grow in an increasingly global economy. More about how small businesses can reap the benefits of an inclusive global economy can be found at this infographic.
 
In line with National Small Business Week, we’ve also tapped the expertise of our partners and other entrepreneurs to assemble a kit of resources to help entrepreneurs start and grow their businesses. We look forward to seeing what your passion leads you to! 
Keywords: Social Impact & Volunteering | Innovation & Technology | PayPal | entrepreneurship | fintech | small business development | small business week

CONTENT: Blog