New research from the NFIB Research Center underscores the vital role small businesses play in their communities.

State-specific data is unavailable, but NFIB State Director Julia Hammond said the report shows the vital role small businesses play in the commonwealth’s economy.

“Virginia’s economy is built on its small businesses,” Hammond said. “Beyond the economic impact of the businesses themselves, small business owners give back in so many ways, donating their time and resources to helping their communities.”

According to the 2024 Small Businesses’ Contribution to the Community report:

• About 76% of small business owners volunteered their time for civic groups, charities, youth sports programs, schools, religious organizations, or similar activities in the past year.
• Financial support was the most common way small businesses helped their communities. Ninety percent of small business owners donated money to local groups, charities, youth sports, schools, or religious organizations in the past year.
• Sixty-three percent of small business owners made in-kind contributions, such as donating meeting spaces, excess inventory, or auction items to raise money for causes.

The report focuses on NFIB members’ community involvement and provides a nationwide view of how small businesses contribute to local communities. Most NFIB members employ between one and nine people and report yearly sales of about $500,000.

“When you support local businesses, you’re investing in the community,” Hammond said.  “That’s why we need to shop local this holiday season and throughout the year.”

Click here to read the full report.