Between the chaos of Black Friday and Cyber Monday, there is a day when you can take care of your shopping while still doing something terrific for your community: Small Business Saturday. This day is dedicated to supporting the small businesses that anchor our local communities and strengthen our economy.
Small businesses create two out of every three net new jobs
Just how important is small business? Small business (fewer than 500 employees) creates two out of every three net new jobs in America. If you don’t work for a small business, your neighbor probably does; over half (!) of all working Americans work for, or own, a small business, ranging from high-tech Internet start-ups to high-touch restaurants, clothing and toy stores.
Small businesses spend money in their own communities
Big businesses tend to shift money away from the community, while small businesses tend to hire – and buy – local. For example, when building a new store, they hire local architects and contractors, and buy from local lumber yards and hardware stores. They hire local ad agencies, accountants, business attorneys, and insurance companies. If selling goods, they are more likely to showcase locally produced products than chains, keeping the money in circulation in a concentration of zip codes. Large corporations often centralize their buying and truck in what they need from the nearest warehouse.
More than 50% of the money spent in a small business stays in the community
So, when you shop small you’re building the economic fabric of your own community, and helping to provide a livelihood for your neighbors.
Have a nice holiday season, everyone.