Why is Small Business Saturday important?
Sandwiched between the frenzy of Black Friday and Cyber Monday, Small Business Saturday is a day dedicated to celebrating small businesses and encouraging consumers to shop at local establishments. American Express started Small Business Saturday in 2010 as a movement encouraging consumers to support small and local businesses.
Small businesses have long been considered the backbone and heart of the American economy. Successful small businesses bring a community together, increase real estate value and help keep local money local – which directly benefits their towns’ economies. Small businesses pay local taxes, which means any money spent there flows back to their communities, supporting things like parks, schools and emergency services.
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Small Business Saturday is also a great chance for small business owners to rake in some last-minute profits before the year’s end. Roughly 110 million consumers nationwide “shopped small” on Small Business Saturday 2019, according to the Small Business Saturday Consumer Insights Survey, spending a combined $19.6 billion at independent neighborhood retailers and restaurants.
Key takeaway: Small Business Saturday encourages support for the businesses that form the backbone of the economy and their local communities.