Everyone has heard of "Black Friday"...but have you heard of "Small Business Saturday"?
Black Friday traditionally marks the big push for Holiday shopping...but a relatively new effort aimed at supporting local small businesses is gaining momentum.
"Small Business Saturday" is gaining support from businesses and consumers and is aimed at getting shoppers to spend some of their holiday shopping budget at smaller, local businesses.
“Small business is the engine of job creation in the US economy,” said Mr. Chenault, chairman and chief executive officer, American Express in a statement on the importance of the event.
“It is also among the sectors hardest hit by the recession. By spreading the word about Small Business Saturday, we can help raise awareness about the critical role small businesses play in cities and towns across the country at a time when they need support the most.”
According to the U.S. Small Business Administration, there were nearly 28 million small businesses in the United States last year. Over the past two decades, they created 65 percent of net new jobs.
Their importance to local communities extends even further. For every $100 spent in locally-owned, independent stores, $68 returns to the community through taxes, payroll and other expenditures, according to the small business advocacy group The 3/50 Project.
“Small businesses are the backbone of our economy and the glue that holds communities together, and we’ve always sought new ways to support them – something that became even more important when the national economic downturn began,” said New York City Mayor Michael Bloomberg.
“When Ken Chenault told me about his idea for Small Business Saturday, I jumped at the opportunity to participate. We’ve all heard about Black Friday and Cyber Monday. This year, if you have the opportunity to shop on the Saturday after Thanksgiving, make it a point to visit local small businesses. It really can make an enormous difference for merchants trying to succeed.” Bloomberg added.
A big social media effort is well underway to help promote this second annual event in hopes of getting more people to spend at least some, if not all, of their holiday monies locally...at the small businesses that are sometimes overlooked when the big shopping season gets underway.
Will you be spending some of your holiday shopping money locally? What do you think of the effort to shift some of the focus back onto local small business owners? Would you be willing to spend a little more with a local business even if you can get the same item for less at a big box store?
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