National Small Business Week, an annual celebration of America’s entrepreneurs and small business owners of all kinds, runs until May 10.

Remember: In the United States, small business is the backbone of the economy, with nearly 35 million small businesses employing about 59 million workers — half of the private-sector workforce. In fact, small businesses account for 99.9% of U.S. businesses. Just think about that for a second.

In Maine, we can never forget the impact of small business. Small business values are community values, with local entrepreneurs serving customers and clients daily — and in more ways than one. Small business owners are incredibly important members of their neighborhoods, whether it means contributing to charities, hosting local events or welcoming visitors to Maine.

Sebasticook Valley Federal Credit Union isn’t a large corporation, so we know it firsthand. We try to go above and beyond in the communities we serve — from offering scholarships for high school students to providing member perks like raffles and hosting programs like financial fitness fairs. Through these engaging programs, we aim to genuinely connect with our community, members and nonmembers alike.

And we’re just one example. Small businesses line the Main Street of Maine, making our state robust and dynamic, and this is borne out in the data. Maine is home to more than 157,000 small businesses — again, over 99% of all businesses — that employ hundreds of thousands of workers. Hundreds of Maine-based small businesses are also exporters, sending goods worth billions of dollars to the rest of the world, and employing in-state workers along the way to meet global demand.

Whether they are exporters or not, Maine’s small businesses actually employ a greater share of the private-sector workforce than the U.S. average, and that should come as no surprise. From restaurants, cafes and shops to community banks and credit unions, Maine is not just a playground for large corporations (although we have plenty of them, too). Our largest companies may be important employers in our state, but there is no more integral part of our social fabric than the local job creators lining our streets.

Small businesses aren’t just employers, although the workforce relies on entrepreneurs to create good-paying opportunities. They often come together to give back. Take the annual Valley of Trees Festival, where many of the Sebasticook Valley region’s businesses come together for a good cause and admission sales go back to the community. Or consider the Maine Credit Union League’s Campaign for Ending Hunger, which has encouraged credit unions to contribute nearly $15 million since 1990 to end hunger in our state. In 2024 alone, we raised more than $1.3 million — together.

Simply being a small business helps these businesses succeed, and gain the ability to give back. It is a key market differentiator that we can use to our advantage for others. Unlike a larger bank, our credit union tries to provide member service with a more personal touch. By nature, smaller operations can treat customers like they’re family members because we aren’t wading through massive bureaucracies with countless staff members.

And customers feel the difference. That’s why 86% of Americans believe that small businesses have a positive impact on our country. The level of trust in small business is sky-high, whether it means serving dinner and drinks on a Friday night or approving a much-needed loan.

During National Small Business Week, let’s try to keep Main Street in mind. We can all support small businesses in different ways, and our state’s economy too.