Why Small Businesses Are Important to the Economy
When it comes to holiday shopping, you might be prepared to get up at 3:00 a.m. on Black Friday to wait in line after line, or maybe you’re planning on a long day in your pajamas, scouting for the best online deals. Don’t drain that wallet just yet! Save some or all of your shopping for the day after Black Friday at Small Business Saturday, on November 25.
Small Business Saturday is a day to celebrate and support our small businesses for everything they do in the community. Just like large stores, a small business can be heavily impacted financially by the holidays for better or worse; choosing to shop with them is to help your local economy and the people in it.
Why Small Businesses Matter
Thriving small businesses are good for everyone:
- Job Creation: As a small business establishes itself and grows larger, it creates new jobs. According to the U.S. Small Business Administration, about 60 percent of new jobs in the private sector are created by existing businesses.
- City Revenue: When you purchase from a local small business, their yearly tax dollars go directly into your community to improve schools and more.
- Money Stays in Town: Shopping at local businesses helps keep more money circulating in your community. If the business owner makes more, he or she has more to spend at other local shops, restaurants, and more.
- Stability and Adaptability: A small business is better equipped to adapt to a drastic change in the economy than a large corporation, because they have less income to lose and a stronger personal relationship with their customers. That means even in tough times, a well-supported small business can stay afloat and keep their employees.
- Continued Growth: The more support you give your local small businesses, the better chance they have of growing. This can bring more jobs and more attention to the community if companies grow large enough to become household names across the country.
- Give and Give Alike: Local businesses are often devoted to the communities they serve; they might give back by sponsoring sports teams or volunteering at a homeless shelter.
- Create a Unique Community: Small businesses give a community its personality. These retail boutiques, restaurants, coffee shops, pet groomers, hair salons, and more are what make your Main Street feel like home.
How to Celebrate Small Business Saturday
First, do some pre-Saturday scouting. Identify small businesses in your area that offer items or services you might like to purchase for yourself or as gifts for your loved ones. Remember that gifts don’t always have to be able to be wrapped in paper: consider the events or experiences you can give to your friends and family via your local stores.
Follow these businesses on social media to stay up-to-date about their Small Business Saturday events and sales. Share the news items of interest on your own social media profile to educate others about the possibilities and encourage them to shop at these small businesses. Share articles like this one to help people understand the importance of supporting a small business.
On November 25, visit your favorite small businesses and find the gifts you need. Get to know the owners … your neighbors … and think about the impact your shopping has on them. You’re supporting the business and the entire family behind it, and you’re working to make your community a better place with something you’re going to do anyway at this time of year.
This year, don’t overlook the small businesses in your community and the hard-working entrepreneurs behind them. Enjoy your shopping and the positive impact it has on your community with Small Business Saturday.