Today in Small Business History – April 27th

🕰️ April 27: Xerox patents touch screen tech, Babe Ruth’s jersey sells for record, LEGO opens its first store in the U.S., Apple unveils AirTag, and the SBA is officially created.

1. U.S. Small Business Administration (SBA) Created (1953)

On April 27, 1953, the U.S. Small Business Administration (SBA) was founded as a federal agency to provide loans, contracts, and counseling to small businesses.

✅ Why It Matters:
The SBA has supported millions of entrepreneurs and remains a key driver of small business growth, especially during economic challenges and recovery periods.

🔎 Fact Check:

✅ Correct: President Eisenhower signed legislation forming the SBA on April 27, 1953.
📚 Source: U.S. Small Business Administration Archives

2. Xerox Patents First Touch Screen Technology (1971)

On April 27, 1971, Xerox received a patent for one of the earliest touch screen interfaces, developed at its PARC innovation center.

✅ Why It Matters:
Touch interfaces revolutionized how we interact with technology, laying the groundwork for everything from smartphones to POS systems that small businesses rely on today.

🔎 Fact Check:

✅ Correct: Xerox filed and was awarded early patents for capacitive touch technology beginning on April 27, 1971.
📚 Source: U.S. Patent & Trademark Office, Xerox PARC

3. LEGO Opens First U.S. Store (1992)

On April 27, 1992, LEGO opened its first retail store in the United States, transforming from a global toy supplier into a branded retail powerhouse.

✅ Why It Matters:
LEGO’s direct-to-consumer shift shows how small brands can build immersive retail experiences and stronger customer loyalty by owning the point of sale.

🔎 Fact Check:

✅ Correct: LEGO opened its first U.S. retail location in Bloomington, Minnesota, on April 27, 1992.
📚 Source: LEGO Corporate History

4. Apple Unveils AirTag (2021)

On April 27, 2021, Apple launched AirTag, a Bluetooth tracking device designed to help users locate items via the Find My network, entering the smart accessory market.

✅ Why It Matters:
Apple’s AirTag launch shows how brand trust and ecosystem integration can power new product categories, offering small businesses lessons in solving everyday problems through innovation.

🔎 Fact Check:

✅ Correct: Apple introduced AirTag at its Spring Loaded event and began sales on April 27, 2021.
📚 Source: Apple Newsroom

5. Babe Ruth Jersey Sells for Record Price (2012)

On April 27, 2012, a game-worn Babe Ruth jersey sold for over $4.4 million, breaking the record for the most expensive piece of sports memorabilia.

✅ Why It Matters:
This event underscores the value of branding and storytelling—even in resale markets. It reminds small businesses that legacy and emotional connection can build powerful long-term value.

🔎 Fact Check:

✅ Correct: A 1920 Babe Ruth Yankees jersey sold on April 27, 2012, for $4.4 million.
📚 Source: SCP Auctions

📚 What This Means for Business:

April 27 brings a mix of foundation and innovation. From the launch of the SBA to Apple’s AirTag and the collectible power of a Babe Ruth jersey, today’s moments reveal how value is created through connection, protection, and bold pivots in technology and retail.

✍️ Written by:
Dr. Ethan Fairbanks, M.B.H. (Master of Business History)

🎯 Tags:

#Small Business History #SBA Launch #Xerox Touch Tech #Apple AirTag #LEGO Retail #Babe Ruth Legacy