It is no secret that the Farragut business community is essential to the success of our great Town. We thrive by having both national and local businesses in the Town, but in this column, I would like to focus on what the small business community means to Farragut.
Small businesses are a part of the fabric of every city and town, and Farragut is no exception.
According to the Small Business Administration, small businesses employ just over half of all private sector employees. Also, small businesses contribute a considerable amount to the Sales Tax base. In Farragut, it is an undeniable fact that without small businesses and their contributions, our residents would be paying a Farragut Property Tax.
Take a ride through the commercial areas of Farragut, and you will be amazed at just how many small businesses surround you: restaurants, beauty and nail salons, dry cleaners, fitness facilities, veterinarians, retail stores, pet groomers, apparel stores, martial arts schools — the list goes on and on. These small businesses provide convenience and variety to the residents of Farragut and the surrounding area. Small business owners are passionate about their businesses and provide personalized and hands-on customer service. Small business owners like to get to know their customers, and they get involved in their communities. This is very true in Farragut as many of our small businesses are owned by Farragut residents.
Small businesses tend to strengthen partnerships among the citizens, other small business owners, community leaders and schools and often champion local causes that are dear to them. In Farragut, small businesses support special events held in Farragut including: Art in the Park, the Independence Day Parade, Free Putt-Putt Day, the Farragut Food & Wine Festival, Freaky Friday Fright Nite, Light the Park, the Lawn Chair Concert Series, and various 5k races and half marathons. Small businesses also support the Farragut schools in various ways including the banner program, the Save Dave campaign, and offering internships to students, to name a few.
Small businesses provide so much more than opportunities for employment and Sales Tax dollars; they also save time and fuel costs for residents who choose to shop local. We need to continue to strive to create a positive business environment in Farragut that is responsive to the needs of small businesses. This environment will increase the likelihood of their survival in the first few years, which indeed are very difficult. The next time you see a new business story in the farragutpress, I encourage you to visit that business and give them a shot at earning your patronage.