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 Gregg Thompson said the report shows the crucial role small businesses play in North Carolina’s economy.

“Small businesses are a cornerstone of North Carolina’s economy,” Thompson said. “In addition to their direct economic contributions, small business owners play a vital role in their communities, generously giving their time and resources to support local initiatives.”

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.

“It was very gratifying to see so many people support local businesses this past weekend on Small Business Saturday,” Thompson said. “We hope people will continue to support small businesses throughout the holiday season and throughout the year, because when we support small businesses, we’re really supporting our community.”

Click here to read the full report.