November 25th , 2023 will mark the 13th year of the American Express initiative Small Business Saturday. The single day has grown into a powerful movement with more people taking part than ever before.
“Founded by American Express in 2010 and officially cosponsored by SBA since 2011, Small Business Saturday has become an important part of small businesses’ busiest shopping season.” — SBA — Small Business Saturday
“American Express (NYSE: AXP) today released the results of its 2022 Small Business Saturday Consumer Insights Survey in which 72% of shoppers said Small Business Saturday makes them want to shop and dine at small, independently-owned retailers and restaurants all year long. Overall, Small Business Saturday drove an estimated $17.9 billion based on projections from U.S. consumer reported spending, with more than two-thirds (72%) of shoppers strongly agreeing they will continue to Shop Small throughout the holiday season because of the impact it has on their local community.” — 2022 Small Business Saturday Consumer Insights Survey.
American Express Had Help
Small businesses across the nation volunteer to be neighborhood champions calling local small businesses and communities to action in support of the event. American Express supports these volunteers with event kits focused on:
- Spearheading events to get folks involved
- Contacting local businesses to join in Small Business Saturday
- Rallying their community to shop local
How You Can Participate
Find participating small businesses in your area
Small Business Owners
Get free Small Business Saturday marketing materials - including sample posters, and social media resources
Follow SBA on social media for all the latest updates on #ShopSmall
Why Shop Local?
American Express shares that, “52% of what is spent at small businesses stays in the community.” But it’s more than that, as the Small Business Administration explains.
“The 23 million small businesses in America account for 54% of all U.S. sales. Small businesses provide 55% of all jobs and 66% of all net new jobs since the 1970s.The 600,000 plus franchised small businesses in the U.S. account for 40% of all retail sales and provide jobs for some 8 million people. The small business sector in America occupies 30-50% of all commercial space, an estimated 20-34 billion square feet.”
How Consumers Can Help
First off, consumers can help by shopping locally not only on Small Business Saturday but year-round. Consumers can help promote Small Business Saturday through word of mouth and on social media with posts such as, “I will #shopsmall for (favorite things) at (favorite store) to support my neighborhood.”
How Important is Small Business?
The impact small business has on communities goes beyond dollars and cents. When neighborhoods experience high unemployment, when youth are unable to find meaningful employment, when mothers and fathers struggle to provide for their children, everyone is affected. Small business may be the key to stabilizing our neighborhoods. Small businesses provide jobs, stability, and pride, they support local; shouldn’t we support them? #ShopSmall.
My Small Business
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