Small Business Saturday: A Call to Support Local Enterprises
As the holiday shopping season approaches, local communities are gearing up for Small Business Saturday, which will take place on November 30, 2024. This annual event is a chance for consumers to consciously opt to ‘shop small’ and provide support to locally owned businesses.
Small Business Saturday began in 2010, initiated by American Express to highlight the significance of small businesses in the economy. Co-sponsored by the U.S. Small Business Administration (SBA), the day is designed to encourage shoppers to think locally.
According to the SBA, spending at small businesses on this day reached approximately $17 billion in 2023, contributing to a total of around $201 billion since the event’s inception. This significant spending underlines the critical role local businesses play in stimulating local economies.
In New York State, small businesses face one of the most challenging economic climates in the nation, prompting calls for increased support from both local and state governments. Senator O’Mara expressed, ‘Small businesses are the backbone of the economy,’ emphasizing that every shopper has the power to make a difference.
Supporting local businesses helps keep money circulating within the community, and for every $100 spent at local establishments, approximately $68 remains within the local economy. Moreover, nearly half of the workforce in various states works for small businesses, highlighting their substantial impact.
Senator O’Mara urged residents, ‘Let’s do our best to support our small businesses on Main Street, Market Street, or wherever they may be found.’ With holiday shopping just around the corner, this sentiment resonates strongly among many in the community.
The appeal to ‘shop small’ is echoed across the nation as communities prepare to celebrate Small Business Saturday, ensuring that local shops and eateries receive their much-deserved recognition and support.
Read more from the U.S. Small Business Administration HERE.
