"Small Business is Everybody's Business" is the theme of this year's Small Business Week, which began yesterday and continues through May 17.

President Carter, in his formal proclamation of Small Business Week, said, "The small business community constitutes the single most important segment of our free enterprise system. It accounts for 48 percent of our gross national product, more than half of the American labor force, and continues to be the major source of inventions and new jobs. Small business is truly the backbone of the American economy."

During the week the contributions of small and minority business will be recognized, and some of the nation's 10 million small business entrepreneurs will be honored. The following is a list of some of the activities: Monday, May 12

"Eureka!" , a Small Business Administration-sponsored exhibition featuring 12 significant inventions by small business persons, will open at the National Geographic Society's Explores Hall. That evening there will be a reception at the hall from 6 to 8:30 p.m.

THE SBA's Office of Advocacy will moderate a panel discussion of on "Small Business and the Innovation-Productivity Crisis" in the Presidential Room of the Capital Hilton. Small business innovators will discuss their problems. Tuesday, May 13

Recipients of "Procurement of the Year" awards, both companies and individuals, will be honored at a banquet at the Sheraton-Washington Hotel, 2600 Woodley Rd. NW at 7 p.m. Wednesday, May 14

The Council of Small and Independent Business Associations will host a Small Business Week reception in room 1318 of the Dirksen Senate Office Building, from 5:30 to 7: 30 p.m. Thursday, May 15

President Carter will announce the "Small Business Person of the Year" at a ceremony in the Rose Garden, beginning at 9:45 a.m.

For more information, call the SBA at 653-6832.