As a financial partner of the small businesses we work with every day, we are proud to support this year’s Small Business Saturday on November 24th, 2018. According to the Small Business Administration 64% of net new private-sector jobs are generated from small businesses across the country. Help us in honoring Small Business Saturday by frequenting local businesses in your community and partnering with other small business owners to support and spread the message to shop small whenever possible.
What is Small Business Saturday?
Founded by American Express in 2010, Small Business Saturday is a movement which supports independently-owned businesses. These are the little guys that make up the backbone of our nation. Small Business Saturday occurs on the Saturday after Thanksgiving – the day after Black Friday – which is usually the fourth Saturday of November. This year, the big day lands on November 24th, 2018.
Stats from Small Business Saturday 2017
- 108 million shoppers spent $12.9 billion in 2017
- The most popular businesses frequented were restaurants, bars and pubs (41 percent)
- Nine in 10 U.S. consumers reported that the event “has had a positive impact on their community
- On a national level, nearly half (48%) of consumers who participated in Small Business Saturday reported visiting a small business that they had not previously been to on Small Business Saturday.
The Impact of Shopping Small
- 6% – That’s the share of retailers who employ fewer than 50 workers, meaning the vast majority of all retail companies are smaller operations.
- 29 million – That’s how many people the overall U.S. retail sector employs, making it the biggest private-sector employer in the country.
- 5 million – This massive figure denotes the number of people employed by small-business retailers, from independent toy sellers to clothing boutiques.
- 64% – Small businesses, defined by the SBA as fewer than 500 employees, created about two-thirds of new jobs from 1993 to 2011. This percentage represents 11.8 million of the 18.5 million net new jobs created in that timeframe.
- 46% – That’s the share of the U.S. GDP (gross domestic product) contributed by small businesses as a whole, signifying the key role they play in the overall health of our economy.
Quick Links:
- Find small businesses in your area
- Get resources to help promote your small biz
- Register to become a Neighborhood Champion
- #ShopSmall and #SmallBusinessSaturday
- AMEX Shop Small FAQ
Sources:
https://about.americanexpress.com/news/pr/2016/2016-small-business-saturday-results.aspx
https://www.nfib.com/content/analysis/economy/small-business-saturday-drives-nearly-13-billion-in-2017-spending/
https://smallbizsat.morningconsultintelligence.com/
