The Importance of Small Business and Entrepreneurship as Strategies to Alleviate Poverty

Small businesses are the backbone of communities all across the United States, and this is especially true in Philadelphia. They account for the vast majority of jobs for residents, supporting the livelihoods of tens of thousands of households in neighborhoods throughout the City. The Philadelphia Department of Commerce works to ensure that small businesses in Philadelphia succeed so that jobs are created and retained and poverty levels in the city decrease. Now more than ever, Philadelphia’s small businesses need targeted, accessible, supports during the coronavirus (COVID-19) pandemic to maintain jobs and bring long-term economic health.