In 2013, we published this post What is Small Business Saturday? Basically, SBS (Small Business Saturday) is a call to action spearheaded by American Express to promote small business year-round, but especially at the beginning of the traditional holiday season as a counter to Black Friday and Cyber Monday.
“A report from the National Federation of Independent Business (NFIB) and American Express – the Small Business Saturday Consumer Insights Survey – revealed that 88 million consumers “shopped small” on the day, up 14.9 percent from just a year ago. According to the survey, more than two-thirds of the U.S. population were aware of Small Business Saturday (67%). Additionally, of the U.S. consumers who were aware of Small Business Saturday, a reported $14.3 billion was spent with independent retailers and restaurants on the day – an increase of 2.1 percent from $14 billion in 2013.” – Forbes: Small Business Saturday Stood Strong.
So far we’ve shared what SBS is and how it did in years past, but why should consumers care? Why shouldn’t you complete all your holiday shopping at big boxes or online? Wouldn’t it save time and money? Maybe, but not always. Small businesses offer great deals on SBS but they offer a lot more than that. Small businesses create jobs in the community.
“Small businesses (firms with 1-499 employees) continue to add more net new jobs than large businesses (500+ employees). Through the first three quarters of 2014, small businesses added 1.4 million net new jobs.” – SBA (Small Business Administration) June 2015
“Microbusinesses (firms with 1-9 employees) are the most common kind of employer firm…America’s 3.7 million microbusinesses made up 75.3 percent of all private-sector employers in 2013, and they provided 10.8 percent of the private-sector jobs.” – SBA – Microbusinesses and the Economy
Small Business Impacts Communities
And it’s not only through job creation although that’s a big part of the positive impact small business has on neighborhoods. Small businesses add to the local tax base, and they support and promote the community. Small business pushes our economy forward.
“Small businesses also lead the way in terms of tech and new product innovation. In an evaluation of all “high patenting firms,” or firms with 15 or more patents in a four-year period found that small businesses produced 16 times more patents per employee compared to larger patenting firms.” – INC Are Small Businesses really the Backbone of the Economy?
Another point to consider is not all small businesses stay small, and a growing business is good for the local economy.
How can You Support Small Business Saturday?
The American Express site Small Business Saturday shares how to rally Small Business Saturday in your neighborhood. If you own or work in a small business, the site shares how to promote your company. For consumers, it offers access to small businesses that fit your needs.
You may also connect via Small Business Saturday Facebook. Supporting small business, not only on Small Business Saturday, but also year round, does more than help a company, it supports your community.