98% of All Businesses

MESSAGE FROM THE PRESIDENT

April 29, 2024

Did you know that more than half of all working Delawareans are employed by small businesses? Did you know 98% of all businesses in the First State are small businesses? There are dozens of facts like this and it’s easy to understand why most people under-appreciate small businesses. Most media focus on the large, publicly traded SEC registered companies, and not the vast majority who are small.

As we celebrate Small Business Week, let’s keep in mind that laws and regulations need to consider the characteristics of small businesses and remember that most never have attorneys that “work down the hall,” or a “team of HR professionals" with tasks divided between those specializing in hiring, training, health, and retirement benefits, and more. Furthermore, most of these businesses live in relative anonymity, tucked neatly away in a commercial or industrial park, and are frequently providers of products or services to other businesses – not consumers. Small businesses are the backbone and infrastructure of our business community.

Join me in celebration of our small businesses this week. With time, a little bit of luck, and hard work, some may grow and scale up to become regional or national in size. However, the roots of even our largest members with brands we all know, started one day long ago as a small business with hopes and day-to-day challenges.

News You Can Use

Key economic news this week starts tomorrow with the S&P Case-Shiller home price index for February and April consumer confidence results. Wednesday morning starts off with the ADP employment report for April, March construction spending figures, April auto sales, and the Fed FOMC interest rate decision followed by a 2:30pm press conference from Fed Chair Powell. On Thursday we’ll get data on factory orders from March and end the week on Friday with the U.S. employment report for April, U.S. hourly wages for April, and evening speeches by Chicago Fed President Austan Goolsbee and New York Fed President John Williams.

This will be a very busy week for companies with earnings calls. We start off today with Domino’s Pizza, SoFi Technologies, Arch Capital, NXP Semiconductors, PotlatchDeltic, and Sun Communities, among others. 3M, Air Products, Coca-Cola, GE Healthcare, Incyte, McDonald’s, Amazon, Advanced Micro Devices, Caesars Entertainment, Chesapeake Energy, Lemonade, Tanger, and Voya Financial are part of the lineup for Tuesday. Mastercard, CDW, DuPont, Johnson Controls, and Yum! Brands, Bally’s Corp, Corteva, and Tetra Tech are among the lineup for Wednesday. Cardinal Health, Exelon, Utz Brands, Apple, and Newmark Group round out a very busy week for calls.

Michael J. Quaranta

President

Delaware State Chamber of Commerce

Uniquely Delaware

Superstars in Business Application is Open to All Delaware Small Businesses and Nonprofits

The Delaware State Chamber and its Small Business Alliance are seeking applicants for the Marvin S. Gilman Superstars in Business awards, which celebrate Delaware small businesses and nonprofits for their model approaches to managing their organization, developing their employees, and supporting their communities. The awards program shines a light on the significant role that Delaware's small business community plays in the state’s economic health. Read more >

Applicants are encouraged to attend a virtual workshop on May 8 at 9:00 am to hear from past winners and members of the selection committee on how to best write an application. Register >

The Division of Small Business is focused on making Delaware the number one state in the nation to start and grow a small business. They provide support to businesses of fewer than 100 employees to help them maximize their potential.

Learn more