Small Businesses Take Center Stage During National Small Business Week

National SBA Leader Kelly Loeffler, Tennessee Commissioner Stuart McWhorter Celebrate Small Business as America’s Backbone

The Thomas W. Beasley Center for Free Enterprise at Belmont’s Jack C. Massey College of Business partnered with the U.S. Small Business Administration (SBA) to host a celebration recognizing and empowering entrepreneurs during National Small Business Week. The event, held on Belmont’s campus, spotlighted the vital role small businesses play in Tennessee’s economy and communities. 

Coinciding with Gov. Bill Lee’s proclamation of May 4–10, 2025 as Small Business Appreciation Week in Tennessee, the gathering brought together business leaders, policymakers and university stakeholders to champion innovation, economic development and entrepreneurial growth. 

SBA Administrator Kelly Loeffler and Tennessee Commissioner of Economic and Community Development Stuart McWhorter joined Belmont President Dr. Greg Jones for a panel discussion on how small businesses fuel innovation, job creation and rural development. 

“Today is about celebrating the heartbeat of our economy — small business,” said Dr. Howard Cochran, director of the Beasley Center and professor of economics and finance. “We believe that economic freedom and free enterprise unlock human potential. They create opportunity, drive innovation and build flourishing communities.”  

As a leading advocate for free enterprise education, Belmont’s Beasley Center also supports initiatives like the Tennessee Export Initiative (TEI) which administers the State Trade Expansion Program (STEP) in Tennessee — a federally funded effort that helps small businesses expand into international markets. STEP is partially funded by the SBA and plays a critical role in Tennessee’s economic development. 

The event reflected the spirit of collaboration, creativity and resilience that defines Tennessee’s thriving small business landscape.  

Panelists highlighted a range of topics including workforce development, broadband access, the integration of AI in small business operations and how large corporations can partner with small enterprises to drive regional growth.  

“I bring a perspective as a farm kid who knows that small business makes our rural communities thrive,” Loeffler said.  “There's a lot of talk about big business investment right now in America, and I talked to some of the CEOs of those businesses, and they said, well, it's small business that is going to help us build and deploy. They know that you're the backbone.” 

The panelists also noted the importance of education and partnerships with future-focused institutions like Belmont in cultivating and inspiring the next generation of entrepreneurial leaders.  

“What's made America so great is the free enterprise system and forward-thinking universities such as Belmont doing those types of things,” McWhorter said. “The universities with all the momentum right now are thinking outside the box. They are thinking differently about how to educate their students and how they're getting students out into the workforce.” 

During the event, the SBA also presented its 2025 Tennessee District Small Business Awards to the following honorees:  

• Inventor of the Year – David Murray, Statherós  

• Rural Small Business of the Year – Ben Neale, Light House Meats  

• Veteran-Owned Small Business of the Year – Tracy Solomon, TEVET  

• Woman-Owned Small Business of the Year – Jenna Tamaya, Appalachian Maid Services  
• Small Business Person of the Year – Reggie and Tanora Polk, Polk & Associates Construction  

These awards recognized outstanding innovation, service and entrepreneurial achievement across a diverse range of industries and communities in Tennessee.  

Belmont’s commitment to free enterprise, entrepreneurial education and community partnership made it a fitting host for a celebration that underscored one clear message: small businesses are powering Tennessee’s future.  

“Small business is the engine of America,” Cochran said. “Small business is where ideas come alive and where communities find strength. Small business is actually big business — it is not small at all. It's the backbone of our economy and the foundation of the American dream.”