Small Business Job Creation: Craft Beer, Bookstores, and McKinley Carter

In the 20th century, the ultimate job for many American was working in a large organization, where earnings were presumed to rise with age, and retirement and health benefits were taken care of.

Putting aside the question of whether this version of the American Dream provided the most fulfilling way to live a good life, it is clear that the security (and some would say blandness) offered by 20th century institutions is a declining public good.  Even young grads landing the most prestigious jobs with big companies (Goldman Sachs, Google) do not expect to be a “lifer” – nor do most corporate HR departments. 

In fact, for the last 20 years or so, small businesses have created way more jobs for young people than big businesses.  McKinley Carter is an example of this. 

Technology has allowed small companies like ours to compete on the basis of quality and cost.  Trend-setting urban and media cultures value artistically-crafted, customized solutions more than mass-produced consistency.   And new regulatory frameworks and world trade agreements have opened up markets for us and other local innovators. 

These fundamental economic, demographic, and political shifts have major implications not only for how our clients may help their young adult children launch their careers, but also for what we buy for them in their investment portfolios.  For an engaging read about how small companies are creating jobs in more urbane markets than McKinley Carter’s regional footprint, read below.