The National Spotlights Shines on Small Businesses
November 16, 2021
The Saturday after Thanksgiving, November 27th, 2021 the national spotlight will turn on an often-overlooked engine of our country’s economic growth: small businesses –> That's You!
Small businesses, or those with less than 500 employees, now comprise 99% of all U.S. employer firms. Over 23 million strong, small businesses is a sector of our economy that continues to grow rapidly. According to the Small Business Association, small businesses have created over 8 million jobs since 1990 and now account for more than half (54%) of all U.S. sales.
In 2010, American Express launched an initiative called Small Business Saturday to encourage people across the country to support small, local businesses. Over the ensuing years, shoppers have embraced the celebration, and each year the initiative gains in popularity.
Anchored between Black Friday and Cyber Monday, Small Business Saturday now stands on its own as a holiday tradition. Here are just some of the reasons it has gained in popularity:
- Money stays local. For every $100 spent with a locally owned independent business, 68% stays in the community. When $100 is spent at a national chain, only 43% stays local.
- Conserves tax dollars. Spending locally instead of online ensures sales taxes go to your local municipality. A bigger tax revenue provides benefits to the entire community.
- Showcases locally made products and services. Locally owned businesses choose items, create menus, and offer services based on the resources, preferences, and needs of the community. Local small businesses often carry the one-of-a-kind or locally made products that make the distinctive holiday gifts.
- Local business owners give back. Studies show that local businesses donated to community causes at more than double the rate of chains.
- Adds to the vibrancy of your local community. Small businesses help shape a community’s identity, building unique character and charm.
How can you incorporate this important national day into your business? Here are 3 easy ways for you to participate:
1- Try inviting the neighbors in your complex to an open house for your office. Offer a bit of networking and some educational information about your business. This is just a quick and inexpensive way for professional services to participate in Small Business Saturday.
2- Offer a special package to your community with your services to entice new customers to try you out.
3- Do some social marketing sharing that you support local businesses and you too are a local business. Again share the special 'try us out' offer.
Using national days like Small Business Saturday can increase your exposure to your ideal client and give you something great to talk about and promote.
This November 27th we will be joining American Express in shining a spotlight on our local small businesses. We hope you will do the same.